Automotive services marketplace Cartisan bags seed funding within 2 months of its launch
Bengaluru-based automotive services marketplace firm Cartisan, which is owned and operated by Xenon Automotive India, has recently raised an undisclosed amount in its seed round of funding from Global Founders Capital; Yuvraj Singh's YouWeCan Ventures; TaxiForSure Co-Founder Aprameya R and others. With this backing, Cartisan is looking to accelerate growth, both in service provider network as well as customer service bookings, in Bengaluru.
Commenting on the investment, Cricketer Yuvraj Singh said, "We believe in Cartisan's vision to simplify car care. It's an innovative product catering to all the servicing related needs of a car owner. By investing in Cartisan, we want to help service providers grow their business and car owners to make an informed choice when it comes to servicing their beloved cars."
Cartisan caters to all the vehicle service related requirements at fingertips. It was launched in Bengaluru in June 2015 by Venkat Sreeram, Sharath Murthy, and Pete Bulley with an aim to simplify car care and make it a hassle free experience for car owners. It covers a broad range of service categories, including car cleaning and detailing, regular maintenance, running repairs and breakdown services.
Speaking on the same lines, Aprameya, Co-Founder, TaxiForSure, said, "Cartisan is looking to disrupt the automotive services space by bringing innovative services, transparency in pricing and service quality with comparative price estimates and ratings."
Cartisan, currently has more than 100 service providers on-board including reputed chains like 3M Car care and Boschcar service in Bengaluru. "Cartisan is the first app in India built by an amazing team of developers, engineers and car enthusiasts that helps a car owner book wide range of services. Their mobile-first approach with strong analytics helps them to be at the forefront of the revolution in automotive aftermarket," said Daniel Jones, Global Founders Capital.
Though Cartisan currently caters to passenger car owners in Bengaluru, but it will be soon launching its services in other cities also. Recently it has also launched its Android app.
Current Market Scenario
The automotive aftermarket for parts in India is a large and growing market that spans manufacturers, distributors, retailers, service providers and garages. The Indian automotive aftermarket has been growing at a steady pace and is expected to expand rapidly over the next five years. According to CII ACMA report, the automotive aftermarket servicing business in India is pegged at about $2 billion (excluding spare parts) in 2015.
Due to rapid growth in online automobile market, more and more investors are investing in this space from various quarters. Recently self-drive car rental company Justride.in raised an undisclosed amount of angel investment from industry veteran like Alok Mittal and others. Similarly, Droom, an automobile-focused classifieds marketplace, raised $16 million in funding this month. Zoomcar, a self-drive car rental company, also raised $11 million from Sequoia Capital, Empire Angels and NGP early this month. Another used car marketplace platform Truebil raised $500K in funding from Kae Capital and Anupam Mittal in the month of June this year.