Doorstep Automotive solution AutoBrix Raises Growth Capital through GetVantage to Accelerate Growth

Bangalore, 9th February, 2021: AutoBrix, the leading on demand doorstep automotive service provider that is changing the way consumer schedule and perform car/bike maintenance raised an undisclosed growth capital facilitated by GetVantage, India's leading Revenue-Based Financing marketplace. AutoBrix will use the capital infusion to accelerate the growth of their highly rated doorstep car service.

Bengaluru based AutoBrix was founded by Pratibha Shalini and Kalyandhar Vinukonda in 2018. It provides auto service to more than one lakh customers across 7 metro cities. AutoBrix had recently acquired AI-based auto service company Cartisan. The AI technology helps users to evaluate the car damage and get instant quotation for the damage repair by capturing image through AutoBrix App.

AutoBrix is a Doorstep Automotive solutions where users can schedule their vehicle service as per their convenience and can avail it at their doorstep. The Company Offers 200+ Doorstep Service including Car wash, Car sanitization, oil change, brakes, A/C Service, periodic maintenance, OBD2 diagnostics, and more. Customer's get an upfront price for services and book an appointment through the AutoBrix mobile app or website. AutoBrix provides customers with transparent pricing that is on average 30% less expensive than traditional shops and dealerships. It is considered to be India's most convenient and transparent Auto service provider with end to end service being performed at customer's location. The complete process has been made contact less with multiple sanitization points and safety measures to ensure the safety of Executives and customer's from Covid-19.

GetVantage's backing to AutoBrix will strengthen the company's profile which will help the company to accelerate its growth, with existing investors like Dr. Apoorva sharma, Mithesh Shah, Rahul Bothra, Prakash Iyer, Karan Kumar and Lalit Agarwal already being part of it.



Bhavik Vasa, Founder, GetVantage said, " We have been extremely active in this past year and have raised funds for 30 brands across the ecommerce sector"

GetVantage, India's first Revenue Based Financing marketplace was founded in 2019 by Bhavik Vasa. It's a very unique platform that helps companies raise capital to grow based on data-driven projection of its future revenues, at no interest % and no equity dilution, just one flat fee. GetVantage uses proprietary machine-learning based credit decision engine and an all-cloud management system (DMS). The fintech focuses on streamlining capital raising process and aim's to make it data driven, easy, transparent and fast. RBF's no equity dilution helps founders to raise growth capital for digital spends without diluting any equity or business control. GetVantage recently raised $5 Mn of funding with a mixture of equity and debtline it can use for funding businesses.

Bhavik Vasa, Founder at GetVantage added --

In the past 6 months and COVID times, the On-Demand services sector has witnessed an exponential surge and the AutoBrix team led by Pratibha and Kalyandhar have capitalized on it brilliantly. We are extremely excited to fuel AutoBrix's growth as they leverage & expand their services to multiple cities across India in the coming years.

"Autobrix is transforming the on-demand doorstep Autoservices market in India. Auto services is a multi-billion dollar market in India filled with in-efficiencies, lack of transparency in pricing & quality, highly fragmented & largely un-organized. It's a classic recipe for disruption. Kalyan & Shalini have built a robust services product keeping consumer cost, convenience & transparency in mind. Autobrix success lies in its team, technology & strong processes & systems" Mr. Sagar Agarwal, Ex-MD Evolvence Fund Said.

Pratibha Shalini said that with this fund we will be multiplying our revenue 4X in 12 months. Doorstep services are the new trend in the country post pandemic and there has been 200% increase in number customers who are looking for doorstep auto services. Minor services market is 70% of all the services per year which can be done at doorstep.

Autobrix's AI-Technology specializes in identifying and evaluating car damage and its condition through images captured by its application. It then gives standard cost estimation for repair/replacement of damage. This helps car users in decision making with complete transparency from the comfort of their home. With 1000+ car's already using the beta version which rolled out few weeks back the tech based automotive solution is rapidly gaining edge over its competitors being the only Automotive Company with such technology.

About AutoBrix

Doorstep is key for disruption

We provide auto services to our customers at the convenience of their home, office, or any other location which customer wants. Our trained, experienced, talented and passionate professionals provide the auto services at the doorstep of the customers. Technology helps in identifying problems at the root and communicate with our professionals to carry necessary tools to complete the service. For more information, please visit: https://www.autobrix.com

About GetVantage

GetVantage is India's first fintech platform providing fast, affordable, Revenue-Based Financing to online brands. Founded in 2019 by seasoned fintech entrepreneur Bhavik Vasa and Tech & Ops veteran Amit Srivastava and headquartered in Mumbai, GetVantage makes data-driven investments that range from INR 20 lacs (USD25k) to INR 2 crores (USD 250k) to help digital brands unlock their growth potential. GetVantage has quickly built a powerful ecosystem of strategic partners to provide business owners with the solutions (capital, business solutions, insights) they need to optimize and scale.. For more information, please visit: www.GetVantage.co or @GetVantage_Co

Vernacular.ai Is Chosen to Be a Part of the World Economic Forum’s Global Innovators Community

Vernacular.ai, an AI-first SaaS voice automation platform announced today that it has been chosen to be a part of the World Economic Forum’s Global Innovators Community, an invitation-only group of the world’s most promising start-ups and scale-ups that are at the forefront of technological and business model innovation. Vernacular.ai helps accelerate engagement strategy, and utilize speech recognition and natural language understanding (NLU) technology to provide enhanced customer experiences across diverse sectors.

Founded in 2017 in Bengaluru (India) by two IIT Roorkee graduates, Sourabh Gupta and Akshay Deshraj, along with founding team members Prateek Gupta, Pravendra Singh and Abhinav Tushar, Vernacular.ai’s voice AI solution, VIVA (Vernacular Intelligent Voice Assistant), helps automate 80 percent of calls handled by a call center and reduces agents’ average call handling time by 30 percent. The API recognizes over 160 dialects in over 16 different languages (10 Indian languages and 6 foreign languages) to support the enterprise user base.

The World Economic Forum provides the Global Innovators Community with a platform to engage with public-and private sector leaders and to contribute new solutions to overcome the current crisis and build future resiliency. Companies who are invited to become Global Innovators will engage with one or more of the Forum’s Platforms to help define the global agenda on key issues.

“It is a great honor and we are pleased to partner with the World Economic Forum Community to drive the development of innovative solutions to tackle challenges surrounding businesses today,” said Sourabh Gupta, CEO and Co-founder of Vernacular.ai. “The future of human interface with machines is voice, we are reimagining business activities with enhanced communication effects, task management, and work productivity. We certainly look forward to innovating further and continuing this important work over the coming years, and working with the World Economic Forum as a Global Innovator is a great way for us to share our solutions with a broader audience and engage in an insightful conversation with the best minds in the field.”

About Vernacular.ai

Vernacular.ai is a Series A funded start-up and an AI-first SaaS business that is driven with a mission to become the leading voice AI/automation system in the world, and currently, services leading enterprise clients across BFSI, Hospitality, F&B, and other industries. This Bengaluru-based start-up won the seed capital investment of the year in 2018, by venture intelligence and was nominated at the ET Start-up Awards 2018.

About World Economic Forum

The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural, and other leaders of society to shape global, regional, and industry agendas. It was established in 1971 as a not-for-profit foundation and is headquartered in Geneva, Switzerland. It is independent, impartial, and not tied to any special interests.

About Global Innovators Community

The Global Innovators Community is a group of the world’s most promising start-ups and scale-ups that are at the forefront of technological and business model innovation. The World Economic Forum provides the Global Innovators Community with a platform to engage with public- and private-sector leaders and to contribute new solutions to overcome current crises and build future resiliency.

Companies who are invited to become Global Innovators will engage with one or more of the Forum’s Platforms, as relevant, to help define the global agenda on key issues. If your company is interested in becoming a Global Innovator, please get in touch here.