Company Name : SparesHub
Funding Amount :
Investor(s) Hyderabad Angels M&S Partners. .
Funding Round : Pre-Series A
Pune-based Iradium Automobiles Private Limited, which owns SparesHub, has secured an undisclosed amount of Pre-Series A investment from Hyderabad Angels and Singapore based M&S Partners.
18 months old, SparesHub is an e-commerce marketplace for automobile parts and services, co-founded by Tapas Gupta and Arijit Chakraborty with the vision to organize the automobile parts and services industry using technology.
“SparesHub would be using these funds to expand existing operations, improve technology infrastructure and enroll more participants in its marketplace. It has entered into agreements with multiple car manufacturers and part manufacturers to offer their range of aftermarket parts online,” said P S Sreekanth, Investment Director at Hyderabad Angels.
SparesHub is currently a team of nine automobile enthusiasts and is looking to hire aggressively. It currently offers more than 40,000 car parts across multiple brands and model and has partnered with 25+ car service centers across West India to offer them replacement parts. The company plans to open multiple sourcing hubs across India.