Amicco Raises $1 Million to Transform Automotive Spare Parts Sourcing

Amicco, a B2B marketplace for automotive spare parts, has secured $1 million in seed funding led by Eximius Ventures. The investment will support the company's efforts to expand its network and improve its procurement platform for independent garages.

The funding round, which closed on April 9, also included participation from FJ Labs and other investors. Amicco plans to use the capital to develop its technology infrastructure and extend operations beyond its current base in Gurgaon.

Founded in 2024 by Vivek Aalok, Amicco addresses the fragmented supply chain that affects independent garages throughout India. The platform aims to provide consistent pricing and better visibility for spare parts, reducing vehicle downtime and improving service delivery.

"We understand that the problem statement is quite complex and believe that technology can offer a transformative solution for the on-demand nature of the business," said Aalok, who previously served as Head of Business at Spinny and worked at J.P. Morgan on Wall Street.

Preeti N Sampat, Partner at Eximius Ventures, cited Aalok's operational experience as a key factor in the investment decision. "Vivek's operational track record on-ground and his deep understanding of the industry's nuances gives him a clear edge," Sampat said.

India's automotive aftermarket sector has long struggled with inefficient distribution channels. Independent garages, which service a significant portion of the country's growing vehicle population, often face delays and price inconsistencies when sourcing parts.

According to industry reports, India's automotive aftermarket is projected to grow significantly in the coming years due to increasing vehicle ownership and aging fleets requiring maintenance. The sector remains largely unorganized, with thousands of small garages operating across the country.

Amicco represents one of the first investments from Eximius Fund 2. Eximius Ventures, a pre-seed fund, focuses on FinTech, SaaS, HealthTech, and Online Media sectors, and has previously backed companies including Jar, STAN, and Eka.care.