SAAS based startup Autobix recently raised an undisclosed amount in a seed round. The funding comes from GardX International Ltd, United Kingdom.
Autobix is a software as a service based automotive dealership solutions provider. The core idea of the startup is to bring various functions of automobile workshops together. This imparts transparency for the customers and workshop owners. The company came into existence in November 2016 with three co-founders. The entrepreneurs are Adhikar Babu, Pranav Anand, and Karan Talwar. Adhikar is an ex-McKinsey analyst, Pranav is an IIT-Roorkee graduate, and Karan is the current MD of Autobix’s parent company BNT Talbros Group.
For the initial days, Adhikar and Pranav ran the company as a home and car cleaning startup before they swivelled in the current business. Karan Talwar, the owner of Autobix’s parent company, said “We’re hoping to generate enough revenues by the next round. We are making profits from our existing revenue stream itself.”
BNT Autosoft Pvt Ltd takes care of the overall functioning of the Autobix. The company raised seed fund from the UK-based auto parts manufacturing company GardX International Ltd. The funding comes at the cost of 25 % stakes in the company.
SAAS based startup Autobix plans to use these funds for scaling up its backend, network upgrades, cloud and server, and R&D. As Karan further adds, “The association with GardX International is going to help us take our product globally by bundling it with their other products. Also, their products that can go hand-in-hand with ours. We can combine the synergies and expand in India using their product and network.”
Another recently funded SaaS startups include San Francisco and Delhi-based Squad. It raised $2.1 million from its early stage investor Blume Ventures. Bengaluru-based Whatfix also raised $3.6 million in a round that the Stellaris Venture Partners led. Airplay also acquired $3.6 million in Series A led by Kalaari Capital and Rakesh Jhunjhunwala, the existing investor.