Guwahati based full-stack mobility startup, Automovill has raised an undisclosed amount from AngelBay.
The round also saw participation from Santosh Chandra, CEO of Essar Oil & Gas Exploration and Production, and Google and PWC executives.
This round is the top-up to the bridge round which Automovill raised in mid-July.
“The startup plans to exhaust funds to widen its wings in 20+ cities, and in ramping up the infrastructure,” the statement said.
Speaking on the funding, Sorabh Agarwal, Co-founder of AngelBay said, “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.”
“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 can raise consecutive rounds and catalyze our growth rate,” Mridu Mahendra Das, Founder, Automovill added.
Commenting on the investment in Automovill, Santosh Chandra, 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 unorganized 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.”
The startup has its portfolio studded with 3 Unicorns in the Indian Automotive sector that include names like Cars24, CarDekho, Uber, and it plans to reach a mark of 25K order, and presence across 20 cities by the end of the current fiscal.