Subrat Kar has launched MotorFloor, an online platform that facilitates purchases of commercial vehicles
The startup is in talks with investors to raise some funds to fuel its offline expansion plans
Kar believes that the Bhubaneshwar-based startup's connection with India's rural heartland will serve as a differentiator from the more established competitors
Over two years after selling his prior video analytics startup Vidooly to Good Glamm Group, entrepreneur Subrat Kar has now forayed into the autotech space with his new startup MotorFloor.
The startup’s online platform facilitates purchases of commercial vehicles, like trucks, tractors, buses, three wheelers and electric commercial vehicles by connecting users with nearby dealers for a particular model.
Its platform has listed commercial vehicles from brands like Ashok Leyland, Bajaj Auto, Eicher Motors and Bharat Benz, among others. Besides, MotorFloor also provides an in-depth look into the types of vehicles under a user discerned budget for a particular segment.
It also provides financing and insurance options to users on the back of its partnerships with four banks and non banking financial companies (NBFC) as well as three insurance companies.
Kar told Inc42 that the startup chose the capital city of Orissa, Bhubaneshwar, strategically as its headquarters as it is exclusively focused on non-metro cities. He added that for rural customers, trust plays a major role in purchase decisions. To build this trust, the startup has currently deployed over 50 rural marketing agents on ground across Orissa, Chhattisgarh, and Jharkhand.
“Currently if someone wants to buy a commercial goods/passenger vehicle, he has to travel long distances and visit multiple dealers for the best price and speak to various banks/NBFCs for financing. Oftentimes these customers are misguided by the sales executives. We’re building MotorFloor to help customers make better informed decisions by checking the specifications, on-road prices, features, and other details of the vehicle,” he said.
While the startup is currently bootstrapped, it is in talks with undisclosed investors, who are focusing their investments in startups in non-metro cities, and expects to close its first funding round within three months.
Kar said the capital infusion will bolster the startup’s plans to expand into the offline channel.
These multi-brand offline experience centres will allow potential customers to get test drives for models from over ten commercial vehicle brands, expert opinions, and quick financing options.
“In our experience centres, we will be showcasing vehicles from brands who have a presence in the region. The first of our centres will open in Bhubaneshwar in June, while the rest six will be set up in tier-III cities like Jajpur, Sambhalpur, Raipur, and in cities in Jharkand.”
Besides, the startup will also be leveraging the capital to foray into the used commercial vehicles segment and B2B business with a focus on commercial vehicle OEMs and auto ancillary companies.
MotorFloor competes with heavyweights like CarDekho, which sells tractors via TractorsDekho and trucks thrughTruckDekho, and CarTrade, which sells used commercial vehicles through OLX India. However, Kar thinks that the startup’s connection with India’s rural heartland will serve as a differentiator from the more established competitors.
MotorFloor adds onto the growing list of startups that have emerged from non-metro cities over the past few years. In July 2022, Minister of Commerce and Industry Som Prakash informed Lok Sabha that more than 50% of recognised startups come from non-metro cities.
At that time, 72,993 startups were recognised by the Department For Promotion Of Industry and Internal Trade (DPIIT). This number grew to 1.14 Lakh as of December 2023. As per estimates, the percentage of startups hailing from non-metro cities is still similar to what was reported in 2022.
