Auto startup boodmo gets Rs 10 cr funding

Online auto spare parts marketplace boodmo.com has raised Rs 10 cr in fresh funding from the existing investor. The latest funding has raised the organization’s share capital from Rs 35 crore to Rs 45 crore. In May 2019,
boodmo raised Rs eight crore.

“These funds will be used to accelerate our growth and help us launch our operations in Maharashtra with a sorting hub in Mumbai. Moreover, we are going to introduce a special software for our warehouses to expedite our operations and delivery process. This software will enable us to avail direct product movement from the acceptance area to packaging tables, thereby avoiding stock allocation whenever possible,” Oleksandr Danylenko, Managing Director & Co-Founder, boodmo.com.

The startup has recently opened a sorting hub in Bengaluru, in 15,000 sqft space. The company has also moved its Delhi-NCR hub to a bigger location in Mundka spread over 9,000 sq ft area.

“We are now also looking to enter the B2B space with a focus on garages.
By integrating the B2B model with our existing B2C model, we will be able to create a platform that will cater to the needs of our customers more effectively and swiftly,” Danylenko added.

Launched in 2015 by two Ukrainian entrepreneurs – Yevgen Sokolnikov and Oleksandr Danylenko – boodmo was recently awarded by Frost and Sullivan as the ‘Entrepreneurial Company of the Year 2019’ in the Indian Auto Component Online Retail category. The company has over one million varieties of spare parts by 400 suppliers of over 3,000 Indian as well as international brands available on its e-store.

Currently, boodmo.com is receiving around 800 orders every day with 10 lakh unique portal visitors per month. So far, it has served 70,000 customers and more than 40 percent of them returned for a second
purchase.

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