Online auto spare parts marketplace boodmo.com on Monday said it has raised Rs 10 crore in fresh funding from its existing undisclosed investor.
The latest funding has raised the organisation’s share capital from Rs 35 crore to Rs 45 crore, the company said in a statement.
Earlier this year in May, boodmo.com had raised Rs 8 crore from an undisclosed investor.
Commenting upon the freshly raised capital, Oleksandr Danylenko, Managing Director and Co-Founder, boodmo.com, said, “These funds will be used to accelerate our growth and help us launch our operations in Maharashtra with a sorting hub in Mumbai.”
Moreover, the company is going to introduce a special software for its warehouses to expedite its operations and delivery process, he added.
“This software will enable us to avail direct product movement from acceptance area to packaging tables, thereby avoiding stock allocation whenever possible,” Danylenko said.
Launched in 2015 by two Ukrainian entrepreneurs – Yevgen Sokolnikov and Oleksandr Danylenko – boodmo.com has over 1 million varieties of spare parts by 400 suppliers of over 3,000 Indian as well as international brands available on its e-store.