News on Medial

Automoto raises first tranche of extended pre-seed at Rs 100 Cr valuation

Entrackr · 1m

Automoto, a vehicle ownership platform, has raised the first tranche of its extended pre-seed funding round, achieving a valuation of Rs 100 crore ($12 million). The round was led by Venture Bridge, with participation from angel investors and high-net-worth individuals (HNIs). The funds will primarily be used to launch Automoto’s first experience center, which will serve as an integration hub for its digital products, the company said in a press release. Founded in 2018 by Sreeraj, Automoto focuses on quick service and automotive care for a range of vehicles, from two-wheelers to commercial trucks. Its medium to long-term strategy includes offering value-added services such as insurance, IoT integration, connected vehicles, a marketplace, and analytics for automotive insights. Based in Mumbai, the company is developing a B2B2C enterprise management system aimed at enhancing the vehicle ownership journey in India. The upcoming experience center will integrate these digital offerings, allowing the company to demonstrate its value propositions and the viability of its solutions in real time. Automoto seeks to address the challenges of vehicle ownership globally by streamlining and enhancing the entire vehicle lifecycle journey, from purchase and servicing to customer engagement.