Garaaz: Automotive Spare Parts Aggregator Secures Rs 4.55 Crore in Seed Funding

Garaaz, an automotive spare parts aggregator, has successfully raised Rs 4.55 crore (approximately $530,000) in its seed funding round from GVFL. This Jaipur-based startup is on a mission to broaden its reach across various states while enhancing its research and development alongside its technological infrastructure.

Expansion Plans and Infrastructure Development

Founded in 2019 by Shaleen Agarwal, this SaaS-enabled platform is designed to link workshops with suppliers of spare parts, boasting an impressive inventory of over 8 million parts across 25 different car brands. The technology-driven platform allows for seamless access to inventory reviews, order management systems, workshop tracking, and analytics, addressing key challenges like product availability, unclear pricing, and delays in delivery within the aftermarket sector.

Revenue Model and Growth Trajectory

Garaaz generates its revenue from a mix of SaaS subscriptions, transaction margins, as well as additional logistics and data services. The company has reported an impressive threefold growth over the past two years, with sales projections for FY24–25 indicating a doubling of figures compared to the previous year.

Competitive Landscape in the Automotive Aftermarket

This automotive spare parts aggregator faces competition from several other startups in the Indian market, including boodmo, SpareIt, Koovers, and Automovill, all of which are actively involved in the B2B spare parts ecosystem.