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Boodmo.com Received INR 8 crore from Investor

Boodmo.com has not disclosed the name of the investor but it acclaims that its overall funding has increased to INR 35 crore
BY BEx Bureau
BusinessEx
May 10, 2019

Boodmo.com has announced to raise INR 8 crore from the investor. The Gurugram-based company renders auto spare parts to customers through its online platform.

The company has not disclosed the name of the investor but it acclaims that its overall funding has increased to INR 35 crore.

Oleksandr Danylenko, MD and co-founder of Boodmo.com, said that the Indian auto spare parts segment will become the third largest across the world by 2025. Through the latest investment, the company is planning to strengthen its place in the Indian auto components segment.

With INR 35 crore investment, the company decides to launch new hubs, enhance technology infrastructure and employ a skilled workforce, Danylenko added.

"This new funding will help us expand our presence in the country and smoothen our operations, which would, in turn, help us makeswift productdelivery to the customers," Danylenko told the Indian daily news, Business Standard.

At present, the company has its sorting hubs in Jaipur as well as Delhi. With more funding, the company will be able to streamline operations for its new hub, which will be established in Bengaluru in the coming weeks, Danylenko said.

"We also plan to open a sorting hub inMaharashtrain the last quarter of 2019," Danylenko told the Indian daily news, Business Standard.

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