Automovill Accelerates Growth with Successful Pre-Series A Funding Led by IPV and Advised by FundTQ

GURGAON, India - Nov. 23, 2023 - PRLog -- Automovill, a leading player in the automotive solutions and after-sales services sector, announced today that it has successfully raised an undisclosed amount in a Pre-Series A funding round led by IPV. The funding process was facilitated by FundTQ, serving as the exclusive advisor to Automovill.

Founded in 2015 by Mridu Mahendra Das, Chinmay Baruah, and Ramana Sambhu, Automovill has rapidly grown to become a key player in the automotive service industry, boasting the 3rd largest presence nationwide and serving a substantial customer base of 15 lakh across the market. The company offers a comprehensive range of services, including automotive solutions, after-sales services, and second-hand cars for sale. Automovill competes with industry giants like GoMechanic and Pitstop, providing cashless insurance claims in 20 cities with 18 insurance companies in collaboration. Currently, Automovill oversees 500+ multi-brand workshops in 20+ cities across India.

Aanchal Malhotra, Growth Partner of FundTQ, commented on the significance of the funding, stating, "Automovill is catering to a vast market with a large customer base. This funding from IPV will empower them to enhance operational efficiency and broaden their market scope."

FundTQ, a unique digital funding assistance platform for institutional investors and mergers and acquisitions, played a pivotal role in the successful funding round. Offering innovative features such as 'Valuation Software' and the 'Choose Right Investors Platform,' FundTQ provides a hybrid approach to start-up fundraising and M&A. Their proprietary valuation software allows companies to assess their venture's value in just 10 minutes, utilizing 15 data points in a comprehensive and data-driven manner. The 'Choose Right Investors Platform' assists start-ups in selecting the most suitable institutional and strategic investors from a pool of 3000+ investors.

FundTQ's growth partner, Aanchal Malhotra, emphasized the importance of a systematic approach to fundraising, stating, "Founders must take a methodical approach to fundraise. You start with a huge pool of possible investors and narrow it down to those with whom you have a personal connection. FundTQ assists you in identifying and connecting with potential investors. Their main goal is to find you the appropriate investors at the right time and at the right price."

The funds secured in this round are expected to fuel Automovill's expansion plans, enabling the company to further solidify its position in the market and deliver enhanced services to its growing customer base.

About FundTQ:

FundTQ is a digital funding assistance platform for institutional investors and mergers and acquisitions. With innovative tools and comprehensive advising services, FundTQ takes a hybrid approach to start-up fundraising and M&A. Their solutions, including 'Valuation Software' and 'Choose Right Investors Platform,' have been instrumental in the success of over a hundred start-ups and mid-sized businesses.

For more details visit: https://fundtq.com/