Fixcraft, a full stack cloud-garage car servicing startup, has raised USD 1 Mn in Pre Series A round in equity led by marquee angel investor and debt led by Ubiquity Capital. As Fixcraft successfully raises significant funding for its innovative car servicing model, it highlights the potential for similar startups. New entrepreneurs looking to venture into this space should consider researching LLC formation services. For reliable options, checking legal zoom reviews for llc can offer valuable insights into choosing the right service.
The round saw participation from renowned Start-up Founders from Indian Start-up ecosystem Amit Lakhotia (CE0, park plus), Dhruv Dhanraj Bahl (COO, BharatPe), Shashvat Nakrani (Co-founder, BharatPe), Rohit Kapoor (CEO, Oyo India and SEA) Maninder Gulati (Global CSO, Oyo), Deepak Jain (Partner, Bain & Co), Ashish Goel (Founder CEO, UrbanLadder), Akshay Saxena (Co-founder, Avanti Fellows), Anshoo Sharma (Co-founder, MagicPin) Manu Jain (Founder, Carbun8), Sumit Jain (Unacademy) and other prominent startup founders.
Fixcraft started by Vivek Sharma Founder & CEO, Abhishek Goyal Co-founder & COO, and Inderjeet Rao, Co-founder & CTO in October 2018. The Delhi-NCR based young start-up has raised USD 1.5 Mn in total till now which includes the current round and had raised its previous round in 2020 from Angel List syndicate led by Rishab Malik, (Co-founder, Droom)
The pandemic certainly wreaked havoc across the sectors, however, post lockdown people felt an inclination towards personal vehicle, over shared mobility. This phenomenon appears to have given a push to the auto-service sector as well.
“Auto Repair industry has been in a dire need of a tech enabled player to handle the lack of trust and high cost of repair and service. Fixcraft’s cloud garage AI driven full stack model has seen very high degree of acceptance in end customers and ecosystem players like Motor Insurance companies and aggregators alike. We witnessed a 400% year-on-year growth, and are targeting to maintain the momentum across our B2C and B2B channels equally. We will be looking to invest heavily on technology to continue our mission to be the most trusted brand in Automotive sector. ,” said Mr. Vivek Sharma, Founder, and CEO, Fixcraft.
“Fundamentally sound businesses are something which we have always believed in and have backed in the past. Fixcraft’s laser sharp focus on unit economics and technology adoption is something we believe will help them stand out and come out as winners. – Mr. Nikhil Bhandarkar- Managing Director, Ubiquity Capital.
Fixcraft’s business model combines an asset light business with full stack control on quality of service. The team has the right focus on execution and I see them having the ability to build a solid business over time”- Mr. Rohit Kapoor- CEO, Oyo India and SEA.
Mr. Rishab Malik- added, “ Covid times gave more push to digital discovery and need for alternative approach to car care and servicing. Fixcraft’s focus on convenience, trust and consumer first approach is what gives them competitive advantage. We have backed Fixcraft earlier and feel super excited to double down in their growth phase.”
The start-up will be utilising the funds in widening its presence in Maharashtra, Karnataka, and Andhra Pradesh, as per the immediate plans and in strengthening the Operations and Technology teams. The brand has already provided services to 3500 customers till date and plans to double the number by the end of the financial year 2021-22.
