SUMMARY
- Automoto raised the first tranche of its pre-seed funding round, achieving a Rs 100 crore valuation.
- Funds will be used to launch its first experience center, integrating digital offerings.
- The company focuses on enhancing vehicle ownership through services like IoT integration and analytics.
Mumbai-based vehicle ownership platform Automoto has raised the first tranche of its extended pre-seed funding round, securing a valuation of Rs 100 crore ($12 million). Led by Venture Bridge, with contributions from angel investors and high-net-worth individuals (HNIs), the funds will be utilized to launch Automoto’s first experience center, which will integrate its digital products and services.
Founded in 2018 by Sreeraj, Automoto provides quick service and automotive care for a variety of vehicles, including two-wheelers and commercial trucks. Its long-term strategy includes offering value-added services such as insurance, IoT integration, connected vehicles, and analytics for automotive insights.
Automoto is also developing a B2B2C enterprise management system to improve the vehicle ownership experience in India. The upcoming experience center will enable the company to demonstrate its digital solutions and showcase their practical applications in real time.
With a vision to streamline the vehicle ownership lifecycle globally, Automoto aims to simplify vehicle purchases, maintenance, and customer engagement through its integrated solutions.
