boodmo.com raises Rs 7 cr in fresh round of funding

Online automotive spare parts marketplace boodmo.com said Thursday it has raised Rs 7 crore from an undisclosed Ukrainian private investment fund.

With this, the startup has received a total funding of Rs 27 crore, the company said in a statement.

Founded in 2015 by Ukrainian entrepreneurs Yevgen Sokolnikov and Oleksandr Danylenko, boodmo.com claims that it offers over one million varieties of car spare parts by 400 suppliers of over 3,000 Indian as well as international brands.

"With this fresh funding, we plan to improve the warehouse management systems with the aim of handling more inventory at the hubs on a monthly basis and expediting the product delivery process. This will in turn help us improve our overall performance," boodmo.com Managing Director & Co-Founder Oleksandr Danylenko said.

The company has launched two sorting hubs in Delhi and Jaipur recently.

Currently, the physical auto spare parts industry in India is unorganised, with customers often facing issues like unavailability of parts, price disparity and lack of guarantee, he said.

"The advent of auto spare part e-commerce has given people an opportunity to get their requirements delivered in a competent and quick manner to their doorstep from an authentic supplier," Danylenko added.