At Rs 100 Cr valuation, Automoto raised first tranche of extended Pre-seed round

With a valuation of Rs 100 crore ($12 million), Automoto, a platform for vehicle ownership, has raised the first tranche of its extended pre-seed funding round. Angel investors and high-net-worth individuals (HNIs) participated in the round, which was led by Venture Bridge.

According to a press release from the company, the money will mostly be utilized to open Automoto’s first experience center, which will act as a hub for the integration of its digital products.

Sreeraj founded Automoto in 2018 with the goal of providing prompt automotive care and service for a variety of vehicles, including commercial trucks and two-wheelers. Offering value-added services like insurance, IoT integration, connected cars, a marketplace, and analytics for automotive insights are all part of its medium- to long-term strategy.

The company, which is based in Mumbai, is creating a B2B2C enterprise management system with the goal of improving the Indian car ownership experience. By integrating these digital offerings, the company will be able to showcase its value propositions and the practicality of its solutions in real-time at the upcoming experience center.

Automoto aims to simplify and improve the whole car lifecycle, from buying and maintaining to interacting with customers, in order to address the difficulties associated with car ownership around the world.