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GoBumpr raises USD 600K led by Chennai Angels& Keiretsu Forum

Press Trust of India  |  Chennai 

City-based automobile after market service provider today said it has raised USD 600,000 in a Pre-Series 'A' funding, led by The Angels and Forum.

The investment round was led by flagship company Vinod K Dasari, Acsys Investments Director V Shankar and Elevar Advisors founding member R Ramaraj, a company statement said.

Individual investors -- Ramesh Mangaleswaran and also took part in the fund raising.

was formally launched in October 2015 by IIM alumni -- Karthik Venkateswaran, Nandha Kumar Ravi and Sundar Natesan. Last year, it raised USD 4,20,000.

The company has served over 7,000 transactions with value of Rs three crore.

"has scaled the B2C service business across two major metro cities delivering value to both workshops and vehicle owners", Dasari said.

GoBumpr's ability to become an overall technology platform in the automobile aftermarket, tapping multiple revenue streams, is the key to emerge a winner in this space, he said.

"We have established our presence and scaled GoBumpr services in Bengaluru and in the last 12 months. With our success in these two metros, we are confident of scaling the platform", Venkateswaran said.

The company is working on the platform by leveraging data from the existing service records of customer to provide technology enabled smart service assistance to car owners, he added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 02 2018. 18:05 IST