Automovill, the auto service aggregating company, recently announced that they plan to fund raise $1.5-1.8 million in an effort to expand into new marketplaces and to find and upgrade the technology currently on their platform.
Having offered its services in Bengaluru and Guwahati for the last three years; Automovill expanded into Hyderabad in May.
The company also tied up with a major ride hailing taxi operator in Bangalore and Hyderabad to service and repair it’s fleet of over 50,000 cars.
Co-Founder Mridu Das said the company is now planning to expand services in Tier-1 and Tier-2 cities. He is hopeful that the contract with the ride hailing cab service can be expanded in other cities.
Asked if the ongoing slump in auto sales will have an impact, Das said that Automovill’s business model is more linked to pre-owned car sales which is zooming.
As per industry average for every nine new cars, there are 10 pre-owned cars.
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