Boodmo, the online marketplace for automotive spare parts has raised its share capital for the third time this year with Rs 7 crore from undisclosed locations. The total funding of the online company is claimed to have reached Rs 27 crore.
Founded in 2015 by Ukrainian entrepreneurs Yevgen Sokolnikov and Oleksandr Danylenko, the website currently offers over 1 million varieties of car spare parts by 400 suppliers of over 3,000 Indian as well as international brands. A unit of Smart Parts Online, boodmo.com helps customers to find the required automotive components using the online catalogue available on the website and can make their search through VIN, brand or part number.
Talking about this fresh influx of funds, Boodmo’s managing director and co-founder Oleksandr Danylenko said, “Due to the positive customer response and increasing demand for products available on our e-commerce platform, we launched two sorting hubs in Delhi and Jaipur some time back. With this fresh funding, we plan to improve the warehouse management systems with the aim of handling more inventory at the hubs on a monthly basis and expediting the product delivery process. This will, in turn, help us improve our overall performance.”
He further said, “The physical auto spare parts industry in India is quite unorganised, with customers often facing issues like unavailability of parts, price disparity, lack of guarantee and among others. The advent of auto spare part e-commerce has given people an opportunity to get their requirements delivered in a competent and quick manner to their doorstep from an authentic supplier. Therefore, this industry is slowly gaining momentum and I expect to see more and more Indians opting for websites like Boodmo for their car spare parts requirements in the near future.”
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