Rartogo Receives First Round of Funding Led by Sequoia Capital

• ByStartupStory     |    February 11, 2023

Rartogo, a company specializing in the procurement and exportation of automobile aftermarket components, has secured $4 million in its initial funding round. The auto parts aftermarket revenue is expected to grow at a 12% CAGR and reach $17-18 billion by 2024-25, according to industry reports.

The investment was made by Sequoia Capital and several angel investors, according to confidential sources. It is possible that the company may choose not to publicly announce the funding round as they aim to operate in a stealth mode for growth purposes.

Gurugram-based Rartogo, a B2B platform for sourcing and exporting automobile aftermarket components, has acknowledged Sequoia Capital’s investment on its website but has not provided additional information. The company offers a comprehensive range of services for buyers, including product discovery, ordering, payments, logistics, customs, and reconciliation. Additionally, Rartogo simplifies the cross-border customs and documentation process for suppliers in the automotive, special and branded products, retail, and industrial sectors.

Rartogo has established partnerships with well-known companies such as Audi, Skoda, Bosch, and BMW, among others. The company is currently in the process of expanding its team and hiring for crucial positions, as indicated by multiple job postings on LinkedIn. The co-founders of Rartogo are Abhishek Bansal and Sanchit Garg, who have previously held senior positions at OYO and One Championship, respectively. The identity of the angel investors involved in this funding round is not currently known.

The auto parts aftermarket segment is dominated by established players such as SMEs and MSMEs, with B2B e-commerce platforms Moglix and Gurguram-based Boodmo also operating in the space. There are over 20,000 auto parts companies in India, with the top ten accounting for only 6% of the market share. 

Follow Startup Story