Inflection Point Ventures Get Full Exit From Koovers With 47% IRR

SUMMARY

Koovers, a B2B ecommerce platform supplying automobile spare parts, was recently acquired by Schaeffler India for INR 142 Cr

According to the investment platform, it has achieved 2.1X MoM from this exit within 22 months of investing in Koovers

Recently, other investors such as Venture Catalysts have also exited Koovers, earning good returns on their investment in the platform

Angel investment platform Inflection Point Ventures has made a complete exit from automobile spare parts platform Koovers, claiming a 47% internal rate of return (IRR).

According to the investment platform, it has achieved 2.1X MoM from this exit within 22 months of investing in Koovers.

“This success underscores IPV’s strategic expertise in nurturing and guiding its portfolio companies to thrive in the competitive startup landscape,” said Inflection Point Ventures.

Koovers was recently acquired by Schaeffler India for INR 142 Cr. Other investors, including Venture Catalysts, have also clocked good returns following the acquisition.

Commenting on the exit, Mitesh Shah, cofounder of Inflection Point Ventures, said, “At IPV, we’re dedicated to working closely with founders to create lasting value. With Koovers, we went beyond the business aspect to enhance their overall market perception in a rapidly evolving sector. We work with the founders to actively influence outcomes by being fully engaged throughout the journey as opposed to signing a cheque and playing a passive role.”

IPV, which launched a VC fund worth $50 Mn last year, has delivered 22 partial exits and 12 full exits to their investors with promising returns so far in 2023.

Sandeep Begur, the CEO of Koovers, says, “Inflection Point Ventures was a pillar for us during our fundraise and M&A stage – with Mitesh playing a pivotal role in the whole process.”

Founded in 2016 by Vinayak YB, Sandeep Begur, and S Prem Kumar, Koovers’ B2B ecommerce platform supplies auto spare parts to independent auto workshops and the aftermarket ecosystem. The startup supplies auto parts to over 7,000 workshops and has a portfolio of around 1.8 Mn parts from various manufacturers.

The startup is active in South India, with a presence across more than 125 towns and cities in the region. Per Schaeffler India’s exchange filing, Koovers garnered INR 77.7 Cr in revenue in the financial year 2022-23 (FY23).