Fixcraft, a car servicing startup, has raised USD 1 million in a pre-Series A funding round led by Marquee Angel Investor and Ubiquity Capital in equity and debt respectively.
The Delhi-NCR-based start-up has raised USD 1.5 million in total, including the current round, and raised its previous round in 2020 from an Angel List syndicate led by Rishab Malik, Co-Founder, Droom.
The round included participation from renowned start-up founders from the Indian start-up ecosystem, including Amit Lakhotia (CEO, Park Plus), Dhruv Dhanraj Bahl (COO, BharatPe), Shashvat Nakrani (Co-founder, BharatPe), Rohit Kapoor (CEO, Oyo India, and SEO), Maninder Gulati (Global CSO, Oyo), Deepak Jain (Partner (Co-Founder, Avanti Fellows), and others.
Fixcraft will use the funding to expand its presence in Maharashtra, Karnataka, and Andhra Pradesh and strengthen the Operations and Technology teams. The brand has already served 3500 customers and plans to double that number by the end of the fiscal year 2021-22.
“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 a 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 in technology to continue our mission to be the most trusted brand in the Automotive sector,” said Vivek Sharma, Founder, and CEO, Fixcraft.
Although the pandemic negatively impacted industries, people after the lockdown preferred personal vehicles over shared mobility. This phenomenon appears to have boosted the auto-service industry as well. COVID times have increased the importance of digital discovery and the need for alternative approaches to car care and servicing.
“Fixcraft’s focus on convenience, trust, and putting the customer first gives them a competitive advantage. We previously backed Fixcraft and are very excited to double down in their growth phase,” said Malik.
Nikhil Bhandarkar, Managing Director, Ubiquity Capital, said that fundamentally sound businesses are something which they 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.” Rohit Kapoor, CEO, Oyo India and SEA, pointed out that Fixcraft’s business model combines an asset-light business with full-stack control on the 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.”
Fixcraft is the only exclusive chain of Auto Collision Repair Centers in India.
They operate a fully-owned, completely transparent chain of car body shops with the goal of providing best-in-class service quality and customer satisfaction. They are rapidly expanding in northern India and will soon reach west and south India.
They believe that repairing a car is more than just fixing technical problems to ensure that that beautiful piece of metal receives the love and attention it deserves.