City-based automobile aftermarket platform, GoBumpr, has raised around US $6,00,000 (around ₹4 crore) in pre-series A funding led by the existing investors - The Chennai Angels (TCA), Keiretsu Forum and individual investors.
The investment round was led by Vinod Kumar Dasari (MD, Ashok Leyland) and saw the participation from Shankar V. (Director, Acsys Investments), Ramaraj R. (Founding Member, Elevar Advisors), Priyamvada Balaji (Wholetime Director, Lucas Indian Service) from TCA to name a few. Ramesh Mangaleswaran (Senior Partner, McKinsey) and Gopal Mahadevan (CFO, Ashok Leyland) have also invested in the company as part of this round. Last year, GoBumpr raised US $4,20,000 in their first round of investment.
With this funding, GoBumpr wants to scale its current operations across Chennai and Bangalore where it already has a sizeable presence. “The immediate expansion plan is to go to Hyderabad before the end of 2018 and the target for next year is to expand to Mumbai and Pune markets and eventually cover the NCR region,” said Sundar Natesan, one of the co-founders of the firm.
Started in 2015 by Indian Institute of Management graduates - Karthik Venkateswaran, Nandha Kumar Ravi and Sundar Natesan, the startup leverages mobile technology to standardise and automate the 80% unorganised automobile after-sales market ($10 billion in annual revenue). GoBumpr is a ‘go-to’ pitstop for end-to-end car and bike service needs right from regular servicing, repair jobs, body works – denting, tinkering & painting to 24*7 onroad assistance. The firm has over 2.5 lakh customers and around 2,500 service workshops on its platform.
The firm also caters to bike-related services which forms around 30% of its total daily volumes and has recently forayed into the tyre market. “We aim to disrupt the tyre market which is currently valued at US $9 billion,” said Sundar.
