Mumbai-based Automoto today announced the completion of the first tranche of its expanded pre-seed project. funds round, at a valuation of Rs 100 crore.
The round was led by Venture Bridge, a prominent Australia-based startup incubator, and was supported by several angel investors and high net worth individuals (HNIs).
Notable investors include former top executives at Shell, the former regional director of Autodesk, and several influential figures in the Indian tech ecosystem.
What does Automoto do?
Founded in 2018 by Sreeraj, Automoto is developing a B2B2C business management system for vehicle ownership journeys and is set to revolutionize the vehicle ownership experience in India.
The startup’s platform is designed to streamline and improve the vehicle lifecycle, from purchase and service to customer engagement.
In particular, it is focused on rolling out its first experience center, which will serve as an integration hub for all of its digital products, showcasing its product-market fit to a broader audience.
Leadership Comments
“Our current ramp-up is strategically focused on the launch of our first experience center, which will integrate all our digital offerings, allowing us to demonstrate the value proposition and viability of our solutions in real-time,” said Sreeraj, Co-Founder and Director executive. of Automoto.
“It has taken my team, along with the guidance of our strategic advisors, a considerable amount of time to get to where we are today. We are fully committed to revolutionizing the forgotten pillars of the vehicle ownership process in India.”
The funds will not only accelerate the development of Automoto’s innovative solutions, but will also establish the company as a key player in addressing vehicle ownership challenges around the world. Automobiles
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