Online marketplace for auto parts Boodmo gets Rs 5cr

Online marketplace for auto component boodmo has raised Rs 5 crore worth of investment through FDI from an undisclosed investor.  Founded in 2015 by Oleksandr Danylenko, Yevgen Sokolnikov, two entrepreneurs from Ukraine, boodmo delivers products to Indian customers from Europe, USA, Japan, China, UAE and South Korea.

The company said in a statement that it has so far raised Rs 20 crore in FDI. Early this year, it raised Rs 5 crore from its existing investors. Speaking on the fresh investments, Yevgen Sokolnikov, Co-Founder & CEO of boodmo, said that the company plans to strengthen the existing operations and expand further.

The company has a sorting hub in Delhi, and it is going to launching another one in Jaipur. The company is also looking for a space for a sorting hub in Maharashtra. “Going forward, we will expand these facilities in more Tier 1 and Tier 2 cities across India,” said Sokolnikov. boodmo.com is expanding its sorting hubs nationally to increase the delivery speed by checking and packing goods closer to vendors and customers, it said in a statement. Boodmo claims to have e-repository of 1 million varieties of spare part offered by 400 suppliers of across 3,000 Indian as well as international brands.

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Groww Raises $1.6mn in pre-Series A Funding

Fintech startup Groww has raised $1.6mn in pre-series A round of funding from Insignia Ventures Partners, Lightbridge Partners, Kairos and others, with participation from previous investors Mukesh Bansal and Ankit Nagori. Groww will use the funds for further strengthening technology and build scalable growth channels. Y Combinator is also an investor in the startup. Launched in April 2017 by ex-Flipkart employees Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal, Groww offers Direct plans for mutual funds on its platform. In the long term, the company will be launching more financial products and value-added services.