Auto Spare Parts Marketplace Boodmo.com Secures ₹8 crore in Fresh Funding
09 May 2019, India:
Online Auto Spare Parts Marketplace Boodmo.com has raised ₹8 crore in fresh funding. The company has not disclosed the names of investors name yet.
Mr Oleksandr Danylenko, Managing Director & Co-Founder, Boodmo.com, said, “This new funding will help us expand our presence in the country and smoothen our operations, which would in turn help us make swift product delivery to the customers.”
With this latest funding, the company has so far raised ₹35 Crores.
Boodmo.com raised ₹10 Crores in its first investment round in 2017, followed by an additional ₹5 Crores in the same year. After that, the company raised ₹5 Crores in July 2018 and an additional ₹7 Crores in December 2018.
The company has Sorting Hubs in Delhi and Jaipur.
The company will use the additional funding to streamline the operations for it’s new Sorting Hub that will be opened in Bengaluru in the next two weeks. The company also plan to open a Sorting Hub in Maharashtra in the last quarter of 2019, it said in a statement.
Mr Oleksandr Danylenko, said, “With the Indian auto components industry poised to become the 3rd largest in the world by 2025, we are looking to strengthen our position in the Indian online auto spare parts market by launching new Sorting Hubs, boosting technology infrastructure and hiring appropriately skilled manpower.”
Mr Oleksandr Danylenko further added, “While the online spare parts industry in India is highly fragmented and suffers from lack of customer trust, our Sorting Hubs are a step towards ensuring that only good quality products are delivered to the customers. Our innovative approach to ensure the quality of the products by following stringent quality checks at our Sorting Hubs will not only ensure reliability but also offer a robust distribution network.”
Boodmo was founded by Yevgen Sokolnikov and Oleksandr Danylenko in 2015. It is online auto spare parts marketplace. The company claims to have over 1 million varieties of spare parts by 400 suppliers.
(Image – Boodmo)
Source: Techstory
