Automoto, a platform for vehicle ownership, has successfully closed the first tranche of its extended pre-seed funding cycle, reaching a valuation of Rs 100 crore ($12 million).
This funding round was led by Venture Bridge, with participation from angel investors and other high-net-worth individuals.
The secured funds will predominantly fuel the launch of Automoto’s inaugural experience center, designed to act as a central hub for its digital vehicle ownership solutions, as detailed in an official statement by the company.
About Automoto
This Mumbai based startup was established in 2018 by Sreeraj.
Automoto specializes in expedited service and maintenance for a wide spectrum of vehicles, ranging from two-wheelers to commercial trucks.
Its strategic roadmap includes the provision of supplementary services like insurance, IoT integration, connected vehicles, a marketplace, and analytical tools for automotive insights.
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The brand is in the process of crafting a B2B2C enterprise management system aimed at enriching the vehicle ownership experience across India.
The forthcoming experience center will combine these digital solutions, enabling the company to showcase its value propositions and the effectiveness of its offerings in real-world scenarios.
Automoto aspires to tackle the complexities associated with vehicle ownership on a global scale by refining and elevating the entire journey of vehicle lifecycle management, encompassing aspects from acquisition and maintenance to customer interaction.
