CarZ secures $5mn funding from IndoUS Venture Partners

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CarZ, a leading multi-brand car service network today announced that it has received $5 million Series A funding from IndoUS Venture Partners (IUVP). CarZ’s business model fills the underserved gap between franchised dealers and untrained street-side mechanics. CarZ offers a full range of car repair services including electrical and mechanical repair, accident repair, parts and accessories, interior / exterior detailing & beautification in convenient neighborhood locations, served by highly trained mechanics with advanced diagnostic equipment.

“The current growth rate of the Indian passenger car segment is phenomenal. As has happened in developed markets such as the USA, Europe, Japan, Indian car owners’ conscious of service quality, value pricing and convenience will actively seek and prefer independent, multi-brand, quality car service centers like CarZ for car repair and maintenance services during and post warranty. By virtue of its service offering, quality of service and culture, CarZ has already established strong customer acceptance and brand identity in the markets it currently operates apart from generating huge nation-wide interest in its business model. The CarZ model has evolved systems and processes to effectively deliver quality, transparent, affordable, hassle-free and friendly car service to car owners at convenient neighbourhood locations.” [Kumar Shiralagi, Managing Director of IUVP]

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