Gurugram-based on-line automobile spare elements market boodmo.Com on Thursday announced that it has raised Rs eight crore in fresh capital, taking the full investment raised with the aid of the organization to Rs 35 crore.
The business enterprise did now not disclose the identity of the investor however said it plans to use the newly-raised investment for launching new sorting hubs, boosting technology infrastructure, and hiring appropriate professional manpower.
Talking about the freshly infused capital, Oleksandr Danylenko, Managing Director & Co-Founder, boodmo.Com stated,
The company, which already has sorting hubs in Delhi and Jaipur, plans to release a new sorting hub in Bengaluru inside the next weeks. It is likewise seeking to open a sorting hub in Maharashtra in the last area of 2019.
In 2017, boom secured Rs 10 crore in its first investment round, followed via an additional Rs 5 crore in the identical yr. The corporation also acquired Rs five crore in July 2018 and an extra Rs 7 crore in December 2018.
Launched in 2015 by way of two Ukrainian marketers, Yevgen Sokolnikov and Oleksandr Danylenko, the boom has delivered a ‘Spare Parts Catalogue’ on its internet site. This catalog is a database with a comprehensive listing of spare elements that allows shoppers as well as dealers to become aware of the exact components and their corresponding element variety by surfing thru the car’s manufacturer as well as the make and 12 months of manufacturing. This additionally enables them to shortlist the exact product that might healthy their car.
Currently, boodmo.Com receives 600-700 orders every day with 10 lakh precise portal traffic in step with month. So some distance, it has served 40,000 clients and greater than 40 percent of them again for a 2d purchase. The corporation is actively trying to installation more sorting hubs in Tier 1 and Tier 2 towns.
With over one million types of spare parts by 400 providers of over 3,000 Indian in addition to international brands available on its e-store, the business enterprise claims to have a large e-repository of actual OEM and aftermarket spare elements.
Commenting available on the market length and opportunity, Oleksandr brought,
There are several such players within the marketplace like Spare hub, Autosparepartsindia, Motorsport, Gaadifix, and hgpmart.Com.
In March 2019, Pune-primarily based vehicle parts corporation SparesHub raised Rs 3.5 crore from the Indian Angel Network (IAN). These days, there is no telling where any given aftermarket part was made, or even who made it. The global parts market is flooded with cheap, substandard garbage that does not conform to any accepted safety and quality standards, which in practical terms, means that you could be endangering the lives of your family by refusing to pay “exorbitant” prices for safety-critical parts at the dealer.
Moreover, if an OEM part fails, you know who to talk to about it, which is often not the case with aftermarket parts. The result of this is that you often have no recourse, and you simply have to buy another part at a different auto parts store, hoping it won’t fail again within a few days. Thus, by occasionally paying more for an OEM part, you can save a lot of money, time, and aggravation in the long run.
If you do choose to go with aftermarket parts, despite the risk of receiving substandard auto parts, you can often realize substantial savings by shopping around. However, when you do shop around, you must compare prices for the same brand.
If you don’t know your way around the parts jungle, it is easy to fall prey to unscrupulous dealers who do not have your best interests at heart. Reputable auto part manufacturers will always brand their products, so stick to brands you know and trust: auto parts that come in unbranded white boxes (or in plain plastic bags) may be cheap, but you just don’t know what you are buying.
“Cheap” never translates into “good quality”, which means that by the time you had replaced an aftermarket auto part of uncertain provenance for the third time, you’ve probably spent more money than you would have done had you bought the part from the dealer in the first place.