Car Service Provider Fixcraft Acquires Spares Brand Vmotive The acquisition is an acquihire and was made at an undisclosed amount
Opinions expressed by BIZ Experiences contributors are their own.
You're reading BIZ Experiences India, an international franchise of BIZ Experiences Media.
One-stop car repair and service start-up Fixcraft has acquired 'VMotive', an automotive spares brand of Vogo, along with its trademark. The team of V-Motive will also join Fixcraft as part of this deal. With this acquisition, Fixcraft will be able to strategically deepen its play in the Indian post-sales automotive market. The post sales automotive market in India is valued at $ 24 billion, which is the third highest in the world.
Fixcraft vision is to be a complete player in the Indian car repair and service industry across the entire value chain. With 'VMotive' in its portfolio of offerings, it would enable availability of genuine and high quality spares. VMotive spares are made up to the specifications of leading automotive brands and thus are seen as a means to boost the credibility of the services offered by the company.
Speaking about the acquisition, Vivek Sharma, Founder & CEO, Fixcraft, said,'' VMotive in Fixcraft's portfolio of offerings makes our play in the post-sales car repair and service segment deeper across the entire value chain. We continue to work towards raising the standards of post sales car repair and service by working for all stakeholders in the industry."
The company has raised a total of $2.5 million since its inception in 2018. The company operates in Delhi-NCR and Bengaluru but plans to expand its presence in 10 Indian metro cities in the next 12 months. It has served over 35,000 people in the two cities.
