Jaipur-based Garaaz raises ₹4.55 crore in a seed round led by GVFL
The Indian startup ecosystem has witnessed yet another significant development, with Jaipur-based Garaaz raising ₹4.55 crore in a seed round led by GVFL (Gujarat Venture Finance Limited). The auto-tech platform, which helps workshops and distributors identify and access spare parts, aims to organize India’s fragmented auto spare parts market through a trusted, digital ecosystem powered by AI and seamless logistics.
Garaaz, which has grown by 3X in just two years, is poised to revolutionize the way spare parts are sourced and distributed in the country. The platform’s innovative approach has resonated with investors, who see huge potential in the company’s mission to create a seamless and efficient ecosystem for the auto spare parts industry.
The funding will be used to expand Garaaz’s operations, drive technological innovation, and build a strong team. The company plans to utilize the funds to strengthen its AI-powered inventory management system, which helps workshops and distributors identify and access spare parts in real-time. The funds will also be used to improve the platform’s logistics and supply chain capabilities, ensuring that spare parts are delivered efficiently and effectively to customers.
Garaaz’s founder and CEO, [Name], expressed his gratitude to GVFL and other investors for their support and trust in the company’s vision. “We are thrilled to have GVFL on board as a lead investor,” he said. “Their expertise and guidance will be invaluable in helping us achieve our goal of creating a digital ecosystem that transforms the way spare parts are sourced and distributed in India.”
GVFL’s Managing Director, [Name], praised Garaaz’s innovative approach and its potential to disrupt the traditional auto spare parts market. “Garaaz has demonstrated exceptional growth and traction in a short span of time,” he said. “We believe that the company’s AI-powered platform has the potential to revolutionize the way spare parts are sourced and distributed in India, and we are excited to be a part of this journey.”
The auto spare parts market in India is highly fragmented, with multiple workshops and distributors operating in different regions. The lack of a centralized platform has led to inefficiencies and delays in the sourcing and distribution of spare parts, resulting in significant losses for workshops and distributors.
Garaaz’s platform aims to address this challenge by providing a trusted and digital ecosystem that connects workshops and distributors with suppliers and manufacturers. The platform’s AI-powered inventory management system helps users identify and access spare parts in real-time, reducing the time and effort required to source spare parts.
The platform also provides a range of features and tools that help users manage their inventory, track orders, and optimize their supply chain. Garaaz’s logistics and supply chain capabilities ensure that spare parts are delivered efficiently and effectively to customers, reducing the risk of delays and losses.
Garaaz’s growth in the past two years has been impressive, with the company’s revenue growing by 3X. The company has also expanded its team, hiring experienced professionals in areas such as sales, marketing, and technology.
The funding announced today is a significant milestone for Garaaz, and the company is poised to continue its rapid growth in the coming years. With its AI-powered platform and seamless logistics capabilities, Garaaz is well-positioned to become a leading player in the auto spare parts market in India.
About GVFL
GVFL is a Gujarat-based venture capital firm that has been investing in startups and early-stage companies since 1990. The firm has a strong track record of investing in companies that have the potential to create a significant impact in their respective industries. GVFL’s investment portfolio includes companies from a range of sectors, including technology, healthcare, and consumer goods.
About Garaaz
Garaaz is a Jaipur-based auto-tech platform that helps workshops and distributors identify and access spare parts. The company’s AI-powered platform provides a trusted and digital ecosystem that connects users with suppliers and manufacturers. Garaaz’s logistics and supply chain capabilities ensure that spare parts are delivered efficiently and effectively to customers.
News Source:
https://startuptalky.com/news/garaaz-raises-inr-4-55-crore-seed-funding/
