Online auto spares market Boodmo earns Rs 10 crore in fresh investments.
Online automobile spare parts market Boodmo has declared it has raised Rs 10 crore in new funding from existing undisclosed investor. The most recent financing has raised the organisation’s share capital from Rs 35 crore to Rs 45 crore. Earlier this year in May, Boodmo had increased Rs 8 crore from an undisclosed investor.
Commenting on the recently raised funding, Oleksandr Danylenko, MD and co-founder, Boodmo stated,”These resources will be utilized to accelerate our growth and help us establish our operations in Maharashtra using a sorting hub in Mumbai. Moreover, we’re likely to present a particular applications for our warehouses to simplify our operations and shipping process.
This program will let us avail guide product movement from approval area to packaging tables, hence avoiding inventory allocation whenever possible”
The company says continuing its growth trajectory it opened a sorting hub in Bangalore, that is spread over a place of 15,000 sqft. Due to a spike in the number of orders, the business has also transferred its Delhi–NCR hub into a bigger location in Mundka disperse across 9,000 sqft. This move is in keeping with the organisation’s strategies to decentralise the item quality evaluation procedure and assessing the inflow of goods in its sorting facilities.
“Our robust expansion is a testament to our commitment towards our clients. We are committed towards standardising the highly disorganised online auto spare parts market in India. It’s with this goal in mind we are now also looking to enter the B2B space having a focus on garages. By incorporating the B2B model with our existing B2C model, we will have the ability to make a platform which can cater to the needs for our customers more efficiently and quickly,” added Danylenko.
Currently, Boodmo has over 1 million types of spare components by 400 suppliers of over 3,000 Indian as well as international brands available on its own e-store. A unit of Smart Parts Online, Boodmo says it has introduced a first-of-its-kind’Spare Parts Catalogue’ on its site, which can be a huge database with a thorough list of spare components that enables buyers in addition to sellers to identify the specific parts and their corresponding section number by surfing through the car’s manufacturer, year and make of manufacturing. This helps them in short list the specific product which would suit their car. Produced and maintained by Boodmo, this weapon was made accessible to other internet spare component marketplaces too for everyone to use and benefit.