Vehicle maintenance startup Demyto has raised an undisclosed amount of funding from HNI investor Deepak Nathani. The funds will be used for marketing activities and expansion in Tier 1 as well as Tier 2 cities.
Demyto.com is a technology startup company works Automobile after Sales Services and paving its way towards Internet of Things domain, it gives Guarantee to Save 25% of annual spending on Vehicle Maintenance and Gives transparency to end user along with 1 month Warranty. Demyto.com assures end user to get Best Deals in every segment like Servicing / repairs, tires & insurance. Demyto.com is taking End to End Responsibility and becomes trusted advisor for customers to save money on unwanted spare parts or repairs.
Its team is having right blend of IoT application related skillset and domain knowledge of automotive after sales services. The firm is already developing IoT solutions for spare parts supply chain, Garage efficiency, EV charging infrastructure to address pain points of automotive OEM. All these solutions are technologically scalable and created using latest IoT standards.
They have started company in March 2015 and invested initial months in onboarding garages, sharpening its strategy before bringing its services live to the users. This enormously helped the company to gain immediate boost in its revenue right from the start. Demyto works in B2B and B2C domain with double digit revenue per month. The startup presently register 30% growth month on month.
The company is addressing 20+ million car market which is growing double digit year on year. There is clear business case for After sales service player to bring Servicing with Cost Effective options, Transparent way of working and use technology as enabler to keep customer aware about the car spending on Servicing and repair.
“We have seen the similar phenomenon in European market in last 10 to 15 years through which number of players has emerged like Euromaster, Auto Butler and Repairpal. Recently Tuhu from china has received 100 million euro funding in this space,” said Kaustubh Konkar, co-founder, Demyto.com.
Demyto foresees opportunities in two main sectors. One area is offering direct services to the customer using its listed garages and second area is offering services to OEM trying to become customer centric. “Our understanding of customer sentiments, domain knowledge and technology approach will help us bring unique differentiators for OEM specific solutions,” added Kaustubh Konkar.
Image Source: ShutterStock