Prime Highlights
- Amicco, a B2B marketplace for auto spare parts, has raised $1 million in a seed round from Eximius Ventures.
- The funds will be used to scale its garage network, enhance its technology, and ramp up market outreach.
Key Facts
- Launched in 2024 by Vivek Aalok, a former Wall Street and Spinny executive.
- Currently present in Gurugram, India, with further expansion plans on the cards.
- Aims at cutting down vehicle downtime and making garage services more efficient.
Key Background
Amicco, a newly launched B2B marketplace for auto spare parts, has raised $1 million in its seed funding round. It was led by Eximius Ventures, an early-stage startup-focused venture capital firm. Other participation was by global investor FJ Labs and some other investors who did not disclose their names. This financing is a significant milestone for Amicco as it looks to revolutionize the disorganized Indian auto aftermarket space.
Started in 2024 by Vivek Aalok, Amicco was conceived through a keen sense of the inefficiencies in the automotive aftermarket. Aalok, who has worked on Wall Street and at Spinny previously, noticed systemic inefficiencies in parts acquisition and service fulfillment, especially for independent garages. These experiences formed the basis of a platform that streamlines access to spare parts while providing better pricing and shorter delivery lead times.
The startup is already based in Gurugram, which is a strategic place considering the high concentration of standalone auto repair shops in the region. Using the new capital, Amicco intends to expand its operations to several cities in India. A major part of the funds will be invested in developing its tech platform—looking to rationalize supply chains, minimize turnaround time, and enhance customer experience.
By providing a tech-savvy solution to garages, Amicco not only reduces downtime for vehicles and injects needed transparency into the highly dispersed spare parts market, but its business model also gains advantages for the service providers themselves as well as long-term value for customer satisfaction and service consistency in the Indian automotive service landscape.
Eximius Ventures’ investment further solidifies Amicco’s growth prospects. The company has a strong history of investing in high-growth ventures like Jar, STAN, Skydo, and Eka.care. Their engagement gives Amicco more than money—it gives them strategic guidance and access to a network of seasoned experts and prospective partners.
This investment positions Amicco to be a significant facilitator in the auto aftermarket industry, resolving supply chain inefficiencies and enabling independent garages nationwide.
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