PUNE: Indian Angel Network has invested Rs 3.5 crore in Pune-based start-up SparesHub, an automobile parts start-up. SparesHub will utilise the funds for its geographical expansion and to strengthen its technology capabilities. The funding was led by Indian Angel members Neeraj Garg, Harsh Gandhi, and Ankur Agarwal.
"Founded by Tapas P Gupta and Arijit A Chakraborty, the
SparesHub team currently comprises 27 employees. It solves the problem of the
unavailability of, and over-expensive, automobile parts which result in a
significant loss of time, money, and efforts for car owners in India,"
said in a press statement.
Since its inception, SparesHub has been working to
disintermediate and digitize the automobile parts industry in India. To this
end, it is introducing modern supply chain and logistics methodologies in the
industry, and caters to B2B customers.
"SparesHub works with India’s leading car companies and
part manufacturers to make OEM and OES parts available to its customers
(multi-brand service centres, service aggregators, fleet owners and insurance companies).
Existing investor Holomua Group Inc, also participated in the investment
round," it said.
Tapas Gupta – CEO of SparesHub, said that the company aims to
create a whole new level of customer delight by leveraging technology. SparesHub
is challenging the traditional methodologies and bringing in global best
practices in the automobile parts supply chain and logistics domain," he
said.
Indian Angel Network is one of Asia’s largest networks of
angel investors that invest in early-stage businesses, which have the potential
to create disruption.
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