MYNEWCAR, a company from Mumbai vehicle marketplace, recently raised around $1 million during a pre-Series A fundraising round. This funding was primarily led by angel investors who were not disclosed.
Founded in 2015 by Madhukar Manpuria, MYNEWCAR is currently operating in cities like Mumbai, Bengaluru, Pune and Delhi, NCR and aims to deepen and expand its business operations in other cities, including Chennai.
The automobile retail tech startup, recently, also launched another brand Trivz, connecting car buyers to car owners to share their experience and provide test drive and get rewarded. Trivz was launched in Bengaluru and aims to expand to other metros.
Many traditional brick and mortar model businesses are now being brought online. New car business model is one of them.
Initially, most of the Indian automobile-related websites were either limited to information, comparison or were limited to used car marketplace such as CarTrade are Cardekho. These platforms also connect potential buyers to loans and insurance providers.
The online car marketplace MYNEWCAR has been working on developing an ecosystem, providing an end-to-end solution and hand-holding customers till the delivery and serve afterwards. This will include the entire life cycle of purchasing a car, starting from the research phase, purchase phase, ownership, and to the repurchase phase.
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