Automovill to expand its presence, raises funds from AngelBay

Automovill has raised an undisclosed amount in funds from AngelBay to expands its Indian presence. The company currently operates in 12 cities and plans on expanding further.

By:October 18, 2021 5:33 PM
Mridu Das_Founder and CEO, Chinmay Baruah, Co-Founder, Raman Sambu, Co-Founder & CBO

Automovill has raised an undisclosed amount from Angel Bay. The round saw the participation from Santosh Chandra CEO at Essar Oil & Gas Exploration and Production, and executives from Google and PWC. This round is the top-up to the bridge round, which the brand raised in mid-July.

While Automovill already has served 1,00,000+ orders across 12 cities, it plans to expand its footprint in other geographies, and deploy tech solutions. To execute the same, Automovill, plans to use the funds to expand to 20+ cities, and in ramping up the infrastructure.

“Automovill has been expanding at a great pace, clocking impressive numbers. With technology disrupting the auto service sector there is a huge scope that still needs to be leveraged. Investing in one of the fastest-growing mobility startups reinstates the wider horizons that are yet to be explored,” said Sorabh Agarwal, Co-founder of AngelBay.

“The growth in the auto service sector has been overwhelming. People are avoiding shared mobility which has given a boost to private vehicles and associated services. We are already spread across 12 cities getting a good response, which has motivated us to penetrate deeper into the market. With the support of the right investors we are able to raise consecutive rounds and catalyse our growth rate,” said Mridu Mahendra Das, Co-founder & CEO, Automovill.

Santosh Chandra, the CEO at Essar Oil &Gas Exploration and Production, added, “The Mobility industry has been a delight for investors all across the world. In India, this was one of the unorganised sectors which explains the potential in holds. Automovill with its refined business model, right technology intervention and focussed approach will be able to reap it to the best.”

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