Car and bicycle service aggregator Raasta Autotech plans to expand operations to 30 new cities
The company, which is currently operational in the National Capital Region (NCR), partners with vehicle maintenance and repair garages across the country to provide high-quality, standardized services to car owner customers. and two-wheelers beyond the original equipment service warranty. manufacturers (OEM).
In addition to vehicle maintenance, Raasta offers its customers a multitude of spare parts, accessories, lubricants, consumables and telematics solutions.
In the first phase, the company will expand its services to seven other cities, including Mumbai, Bengaluru, Hyderabad, Kanpur and Ludhiana by the end of this month. Thereafter, it will integrate partner workshops in nearly two dozen new locations by August 2022. Partner garages must meet the eligibility criteria described by Raasta. They are trained and provided with back-end software for the company to work on.
Raasta Autotech Managing Director Karn Nagpal said the market size for the organized vehicle services industry is currently $ 2-3 billion. There are regional players in the fray, and the intention is to build an integrated vehicle services platform and become number one in the space, he said.
Consumers already using mobile apps to access a host of hyper-local services from startups such as Urban Company, Oyo and Airbnb hotel reservations, taxi rentals via Uber and Ola, the opportunity to convert vehicle owners to benefit from services via an online platform. is also huge, Nagpal said.
âWe have worked with automakers across the states for many years now. We understand the market, âhe said. âWe believe that as consumers have grown accustomed to using mobile apps to access various services in recent years, the growth potential of this segment can also be exponential. ”
The company targets tech-savvy vehicle owners who seek the convenience of booking services at their fingertips, owners looking to take their vehicles to standardized garages while paying less than authorized workshops, and vehicle owners willing to pay. a bonus to have their cars and bikes maintained at their doors. Over time, Raasta intends to reduce the cost of vehicle maintenance by up to 30% compared to OEM workshops.
The Rosmerta Group, which manufactures high-security license plates for vehicles, has invested $ 2 million (15 crore rupees) in Raasta Autotech.
Nagpal said the company has the resources to maintain operations over the next year and has no plans to raise external funds at this time. âWe have family funds. It is only after we have exhausted this investment that we will consider external financing to develop ourselves further, âhe said.