Koover raises $1.5M in funding round
Koover recently announced that it raised $1.5 million in a funding round led by Inflection Point Ventures, JPIN-VCats, and Venture Catalysts.
The startup plans on using the capital raised to expand operations all across India, improve its product portfolio, and scale its technology platform.
Koover CEO and co-founder Sandeep Begur said, “Indian auto aftermarket is one of the last unorganised frontiers to be conquered, and this is the space we are disrupting. With one of the highest fill rates in the industry, we are the preferred go-to partners for workshops for all their spares requirements.”
Founded in 2016 by Vinayak, Sandeep Begur, and S Prem Kumar, Koovers leverages technology, procurement contracts with OEM/OES, and focuses on “points of consumption in the automobile ecosystem. .
Commenting on the investment, Inflection Point Ventures co-founder Mitesh Shah said, “Koovers is tapping the unorganised car maintenance market, which will continue to grow as it is an ongoing demand for car owners. At IPV, we invest in businesses that can show sustainable business models with a path to profitability. Koovers delivers on both the key parameters.”
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