Bengaluru-based LetsService Automotive Technologies Pvt. Ltd has raised an undisclosed amount of funding in its pre-Series A round from aerospace components maker Aequs Group, the startup said in a statement.
The development a little more than a year after the startup, in May 2016, raised angel funding from QuEST Global chief operating officer Ajay Prabhu and Julia Computing Inc. co-founder Deepak Vinchhi.
Aravind Melligeri, chairman and CEO at Aequs Group, said that Let’s Service has digitised the repair and maintenance service process across more than 350 service centres with limited resources.
Let’s Service uses its proprietary technology to enable any two-wheeler service centre plug the Pickup and Drop feature, thus improving the convenience of two-wheeler servicing for both the service centre and customers.
The startup was founded in October 2015 by Sachin Vasanth Shenoy, Girish Gangadhar and Sachin Shrikanth Radder.
Shenoy has earlier co-founded Flit.in, an online marketplace for offline retailers in Bangalore. Prior to that, he had worked with companies such as IBM and MetricStream. Gangadhar has earlier worked with IBM and Toyota while Radder was an engineer at QuEST Global.
The startup is operational in Bengaluru, Mumbai, Pune, Hyderabad and Chennai.
“This investment comes at a crucial point; we are catering to increased demand for our exclusively built digital solutions, across dealerships in the country, from our customers. The investment will be used to strengthen our team, expand into multiple cities and enhance our technology stack," Shenoy said.
"In the coming six to eight months, we would focus on driving improved optimization and efficiency of service centers, with the support of original equipment manufacturer, by extensively plugging our solutions at more dealerships across the country," he added.
A few other ventures in the online automobile servicing segment have raised funding in the recent past.
Bengaluru-based Chatpay Commerce Pvt. Ltd, which operates after-sales car service provider Pitstop, recently raised $1 million (Rs 6.5 crore ) in its pre-Series A round of funding from Blume Ventures, Singapore-based Goldbell Group and a group of angel investors.
In August, media reports stated that car repair and automobile servicing startup GoMechanic had raised a seed funding round from Orios Venture Partners.
In June, automobile parts marketplace SparesHub.com, run by Iradium Automobiles Pvt. Ltd, raised Rs 2 crore from a clutch of investors including The Chennai Angels, Singapore-based Anthill Scale Ventures, US-based Esvee Technologies Inc and Inc95 Consulting.
In March, StatSoft Technologies Pvt Ltd, which runs online car servicing platform BookServicing, raised Rs 20 lakh in seed funding from the National Science and Technology Entrepreneurship Development Board, a government arm that promotes tech enterprises.
In February, Northerly Automotive Solutions Pvt. Ltd, which runs automobile services platform GoBumpr, raised Rs 2 crore in a round led by The Chennai Angels. Leave Your Comment