CAR EASY RAISES UNDISCLOSED AMOUNT IN SEED ROUND

 

CarEasy, a burgeoning car services startup, has recently secured an undisclosed seed funding round from ah! Ventures Angel Platform, EvolveX, We Founder Circle, and Alaka Capital.

The company specializes in offering car washing and additional services to both B2B and B2C clients. At present, it operates in specific segments, but the company has plans to activate its franchisee vertical in the coming months.

The company proudly reported that it has serviced over 35,000 vehicles thus far, employing the efforts of a workforce exceeding 100 blue-collar workers. Their footprint extends to 22 cities, and they've conserved an impressive 3.6 million liters of community water. Notably, they've been serving significant unicorn clients within the automotive sector.

Prathap Simha PV (Vikram), the founder and CEO, remarked, "Our solution encompasses comprehensive vehicle washing and detailing services for our B2B clientele. We're also preparing to launch our own franchise outlets in key Indian cities in the near future. In FY-22, we achieved a threefold increase in revenue compared to the previous year, and we aim to sustain or even surpass this growth trajectory this year."

He further added, "As a profitable startup, our emphasis remains on fostering sustainable growth, where fundraising is more of a strategic choice than a necessity for survival. We've established a robust order pipeline, and this year, we're focusing on both organic and inorganic growth through the acquisition of startups operating in a similar space. This round of funding will bolster our founding team."

Himanshu Rath, co-founder and CFO of the company, stated, "We are in a profitable position, and our primary focus remains on achieving sustainable growth. Fundraising, for us, is about strategic choice rather than survival. We have a solid order pipeline in place, and this year, we're eyeing both organic and inorganic growth by acquiring startups operating in a similar space. This fundraise will aid in expanding our founding team."

The investment round also witnessed the participation of notable investors, including Arvind Agarwal (CFO-Pay U India and Ex-CFO Nykaa), Anand Padmanabhan (President Corporate Affairs- Shahi Exports), Vinay Soni (Finance Director – Flipkart), Abhishek Gupta (CEO- Turbotic and Ex-KPMG Partner), and Saurabh Singh (Head Business Strategy and Program Management- Greaves Electric Mobility).