Otoklix team
Otoklix, an O2O digital solution for automotive aftermarket services in Indonesia, has secured a US$10 million financing round from Alpha JWC Ventures and AC Ventures.
Sequoia Capital India’s Surge; Prijono Sugiarto, former CEO of Indonesia’s automotive conglomerate Astra International; YouTube co-founder Steve Chen; and Google executives in XA Network also participated.
With this fresh funding, Otoklix aims to improve its technological touchpoint by establishing its own O2O managed flagship workshops throughout Indonesia.
Servicing and fixing cars is still a long and cumbersome process in this rapidly growing market. Visiting authorised dealers involves high costs and long queues. Getting cars fixed at independent workshops can expose car owners to fraud risk, lack of standardisation and poor after-sale service.
Despite controlling 80 per cent of the total market in Indonesia, many of these workshops still manage transactions with pen and paper, restraining growth and margins.
Also Read: AC Ventures hits final close of Fund III at US$205M to back early-stage Indonesian startups
Founded in 2019, Otoklix aims to simplify vehicle maintenance for vehicle owners, allowing users to discover services at any recommended independent workshop nearby and receive a warranty for any transactions at an Otoklix partner workshop. Otoklix provides customer relationship management (CRM) and supply chain management (SCM) solutions for independent car workshops to increase topline, margin, and operational efficiency.
The firm claims it facilitates the servicing of 15,000 cars per month by more than 1,900 active partnered workshops.
“We believe that transparency and trust is the biggest issue in the market. Car owners struggle to understand where to take their car to be fixed and how much the service should cost. Simultaneously, workshops have limited access to information to conduct price comparisons for parts, sourcing needs, and suppliers’ credibility. This is a problem for all the 138 million automotive vehicles in Indonesia, a growing market that has been overlooked. This huge fragmentation in the market has a high potential for technological disruption,” said Martin Suryohusodo, co-founder and CEO of Otoklix.
In the past year alone, Otoklix claims to have grown from 100 to over 1,900 partnered workshops, providing services to more than 100,000 customers annually.
—
Ready to meet new startups to invest in? We have more than hundreds of startups ready to connect with potential investors on our platform. Create or claim your Investor profile today and turn on e27 Connect to receive requests and fundraising information from them.
The post YouTube co-founder, Alpha JWC, AC Ventures back Otoklix’s US$10M funding round appeared first on e27.