Subscription-based vehicle maintenance platform, FirstU has reportedly raised an undisclosed sum of money in a seed funding round. A cohort of investment firms, encompassing First Cheque and India Quotient participated in the startups funding round.
Other investors that participated in the seed round include Farooq Adam, co-founder of online fashion shopping platform Fynd, and other angel investors, VC Circle reported citing the companys official statement.
Autozo Technologies Pvt. Ltd, which runs FirstU, will use the capital to hire staff as well as strengthen its product offering, the company said in its official statement.
The startup would address all the needs and concerns of a car owner through its single-window subscription, Co-founder and CEO of FirstU, Muhammed Rizwan said in an interview with VC Circle.
The relationship between vehicle and owner is still filled with hassles, unaffordability and lacks transparency, Rizwan said.
The firm was confident in its investment because of FirstUs transparency and consumer-focused approach on quality and affordability, India Quotient partner Madhukar Sinha said in an interview with the cited media agency.