PremiumMUMBAI: Automovill, a full-stack mobility startup, has raised $500,000 in a bridge round from Mumbai Angels Network, along with existing investor NEDFi Venture Capital, taking the funds raised tally to $1.2 million since inception.
The round was led by Jay Nagrecha and Sandeep Daga, participating through Mumbai Angels Network.
Bengaluru-based Automovill will deploy the fresh proceeds to bolster technology adoption, expand its footprint in multiple cities and mid-level hiring to manage the increase in business, and in ramping up infrastructure of its existing partner and hub networks.
“The change in the mobility sector and post-covid demand in private vehicles has been a great boost for Automovill; to increase its customer base across the country. With the experienced team and adoption of technology in process automation, quality control and increased retail customer base, aims to increase its footprints in the B2B and B2B2C segments including auto insurance providers," Mridu Mahendra Das, founder , said.
Founded in 2016 in Guwahati, Automovill’s tech-enabled 360-degree approach enables impeccable customer experience by bringing trust, transparency, and convenience.
Since its inception, the platform, co-founded by Mridu Mahendra Das and Chinmay Baruah and recently joined by Ramana Sambu as co-founder and CBO, has handled more than 100,000 cars for both retail customers and B2B clients. Headquartered in Bangalore, Automovill now has a presence in 12 cities with direct retail customers in Bangalore, Delhi-NCR, Hyderabad, and Guwahati, providing services for nearly 2,000 cars per month, and has observed a massive 250% growth post-pandemic.
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