Automobile maintenance startup Demyto has raised an undisclosed amount of funding from Cybage co-founder Deepak Nathani.
With this investment, Nathani will pick 20% stake in the company.
Pune-based Demyto (deal with my auto), was founded in 2015 by Kaustubh Konkar and Ulhas Pandit. It provides after sales service for vehicles through registered dealers. It majorly works with cab companies and tour operators, taking charge of vehicle maintenance.
Kaustubh Konkar, co-founder of Demyto said, “At present, we work with 110 service stations in Pune and offer both B2B and B2C services.” He also added that the company has created a technology-enabled interface that could be used to offer services like usage-based insurance where on-board diagnostics is required.
The newly raised funding will enable the company to look at using the IoT. Konkar said next on the agenda was expanding into other cities, starting with Mumbai and Bengaluru. He also stated that the company is planning to pursue a franchise model for growing in tier-II towns.
Prior to this, in May 2016, app-based vehicle maintenance startup MotoMojo raised an undisclosed amount of angel funding from the founders of Ventes Avenues. Other players include Bengaluru-based bike and scooter repair service provider, DrivoJoy; online bike service and repairs platform, gear6.in; car care service provider Bumper; automotive services marketplace startup Cartisan, etc.
The development was reported by ET.