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CleanseCar raises USD 2 million in Pre-Series A

Oct 10, 2019 by The Passage Team
CleanseCar raises USD 2 million in Pre-Series A

CleanseCar has raised USD 2 million in Pre-Series A funding from a group of investors including Haldiram’s Family Office, Venture Catalysts founder Apoorv Ranjan Sharma, Dhianu Das of Alfa Ventures, Amalthea Capital founder Karan Kumar and Swiggy CFO Rahul Bothra among others.

The fresh capital will be used to expand to all the metro cities in India and create multiple revenue streams by adopting high-level technological expertise.

Founded in January 2018 by Kalyandhar Vinukonda and Pratibha Shalini, CleanseCar offers daily car wash, on-demand bike service and road side assistance for cars.

The startup currently does 500+ on-demand bike services per month.

“With changing lifestyles, burgeoning middle-class and dramatic rise in car owners in the country, there is a huge potential for supplementary services, such as car cleaning and repair using disruptive technologies, besides providing auto accessories. We also are witnessing a huge growth in our bike services unit too and see ourselves as the market leader in this sector,” said Kalyandhar Vinukonda.

As per the IBEF’s recent report, Indian auto industry is the fourth largest in the world. Between years 2013-19, domestic automobile sales increased at 6.71% CAGR, with 26.27 million vehicles getting sold in FY 2019. Domestic automobile production increased at CAGR 6.96% between years 2013-19 with 30.92 million vehicles manufactured in the country in FY 2019 alone. As the domestic automobile market is growing, so is the car servicing market, which is expected to grow by over 65% and will reach 34,000 crores by 2020. India’s bike market is infact the biggest in the world, even ahead of China and is presenting a huge growth potential for the bike services market here.

The Passage Team

The Passage is committed to creating in-depth content over technology industry across Asia with a focus on emerging startups in the technology, healthcare, education, food, tech, travel & mobility segments.

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