Gurgaon-headquartered boodmo.com, an online marketplace for automotive spare parts, has raised its share capital for the third time this year. The enterprise has received a fresh funding of INR 7 Crores from an undisclosed source. Till date, boodmo has received a total funding of INR 27 Crore.
Earlier in August this year, the startup had raised ₹ 5 Crores worth of investment through FDI from an undisclosed investor.
Founded in 2015 by Ukrainian entrepreneurs Yevgen Sokolnikov and Oleksandr Danylenko, Boodmo is a unit of Smart Parts Online Private Limited. It has a comprehensive database of genuine and aftermarket replacement parts. In a short span of time, boodmo has collated a massive e-repository of genuine OEM and aftermarket car spare parts, offering over 1 million varieties of spares offered by 400 suppliers of over 3,000 Indian as well as international brands.
The boodmo.com website currently offers over 1 million varieties of car spare parts by 400 suppliers of over 3,000 Indian as well as international brands. The organization’s mission is to organize and standardize the Indian automobile spare parts market and make it more dynamic and transparent for all the stakeholders.
Talking about this fresh influx of funds, boodmo’s Managing Director & Co-Founder Mr 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.”
With the Indian auto component industry expected to become the third largest in the world by 2025, boodmo aims to ensure that the online auto component market plays a vital role in that surge. Regarding the growth that the Indian online auto spare parts industry is witnessing, he said, “The physical auto spare parts industry in India is quite unorganized, with customers often facing issues like unavailability of parts, price disparity, lack of guarantee, etc. The advent of auto spare part ecommerce 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.”
A unit of Smart Parts Online Private Limited, boodmo.com aims to become a trusted channel that would connect car owners with auto spare parts dealers. Customers can find the required automotive components using the online catalogue available on the website and can make their search through VIN, brand or part number.