Startup Fixcraft raises $1 mn in pre-Series A round

FPJ Web DeskUpdated: Thursday, July 29, 2021, 11:48 AM IST
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Team Fixcraft: (l-r) Inderjeet Rao, Co-Founder and CTO; Abhishek Goyal, Co-Founder, COO; and Vivek Sharma Founder & CEO | Fixcraft

Fixcraft, a full stack cloud-garage car servicing startup, has raised $1 million in pre-Series A round in equity led by marquee angel investor and debt- led by Ubiquity Capital.

The round saw participation from startup founders from Indian startup 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.

Started by Abhishek Goyal Co-Founder and COO, and Inderjeet Rao, Co-Founder and CTO in October 2018, the DelhiNCR-based startup has raised $1.5 million 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.

“The 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 percent 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 Vivek Sharma, Founder, and CEO, Fixcraft.

Nikhil Bhandarkar- Managing Director, Ubiquity Capital, said, “Fundamentally sound businesses are something which we have always believed in and have backed in the past."

"Fixcraft’s business model combines an asset light business with full stack control on quality of service,” said Rohit Kapoor- CEO, Oyo India and SEA.

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 3,500 customers till date and plans to double the number by the end of the financial year 2021-22.

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