Auto Repair Startup Fixcraft Raises $ 1 Million in Pre-Series A Funding
BENGALURU: Auto repair management startup Fixcraft announced Thursday that it has raised $ 1 million in equity and debt, as part of its pre-Series A cycle, led by renowned angel investors.
He increased the debt led by Ubiquity Capital. The cycle also saw the participation of founders of Indian startups, notably – Amit Lakhotia, co-founder of Park Plus; Shashvat Nakrani, co-founder, BharatPe; Ashish Goel, founder of UrbanLadder; among others.
Founded in 2018, Fixcraft provides cloud-based full-stack garage solutions to help implement standard technology systems and processes in the auto repair segment.
Unlike a garage aggregator, Fixcraft has the end-to-end customer journey and ensures that repair jobs are completed. The brand also offers a technology-based insurance claims management system as well as a full range of automotive service offerings.
“The auto repair industry urgently needed a technology player to deal with the lack of trust and the high cost of repairs and services. Fixcraft’s cloud garage model has been very well accepted by end customers and ecosystem players like auto insurance companies and aggregators. We will be looking to invest heavily in technology, ”said Vivek Sharma, Founder and CEO of Fixcraft.
“We have experienced 400% year-over-year growth and aim to maintain momentum across our consumer and business channels equally,” said Sharma.
The startup will use the funds to expand its presence in Maharashtra, Karnataka and Andhra Pradesh, in line with its immediate plans, while strengthening its operational and technology teams.
The brand has already provided services to 3,500 customers to date and plans to double the number by the end of fiscal year 2021-22.
“Fundamentally sound businesses are something we have always believed in and supported in the past. Fixcraft’s focus on unit economics and technology adoption is something that we believe will help them stand out and come out on top, ”said Nikhil Bhandarkar, Managing Director of Ubiquity Capital.
With this round, the startup has raised $ 1.5 million to date, having raised capital from the AngelList union led by Droom co-founder Rishab Malik.
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