Home Blog BOODMO raises additional INR 5 Crores in FDI

BOODMO raises additional INR 5 Crores in FDI

This is the second time in a year that the enterprise has increased its share capital

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Gurugram, July 9, 2018: BOODMO, which is India’s fastest growing online marketplace for automobile spare parts, has raised its share capital with an additional INR 5 Crores worth of investment through FDI from an undisclosed investor. Founded in 2015 by Yevgen Sokolnikov and Oleksandr Danylenko, two entrepreneurs from Ukraine, boodmo started selling car spare parts on its website in January 2017. The company aims to revolutionize the auto components industry in India by facilitating online sale of automobile components from vendors to customers. The enterprise has so far attracted INR 20 crores in FDI.

Speaking on the fresh investments, Yevgen Sokolnikov, Co-Founder & CEO of boodmo, said, “We are continuously upgrading our services to make space for online sales in the Indian auto components industry. In just eighteen months of sales operations, we have made a tremendous progress, with
volumes of fresh orders increasing continuously. With these fresh funds, we plan to strengthen the existing operations, along with the realization of our expansion plans.” He added, “We already have a Sorting Hub in Delhi and will soon be launching the second bigger Sorting

Hub in Jaipur. We are also actively looking for an appropriate space for a Sorting Hub in Maharashtra as we have an extensive customer base in the state. Going forward, we will expand these facilities in more Tier 1 and Tier 2 cities across India.” boodmo.com is expanding its sorting hubs nationally to increase the delivery speed by checking and packing goods closer to vendors and customers.

A unit of Smart Parts Online Private Limited, boodmo has a comprehensive database of genuine and aftermarket replacement parts. In a short span of time, boodmo has collated a massive e-repository of genuine OEM and aftermarket car spare parts, offering over 1 million varieties of spares offered by 400
suppliers of over 3,000 Indian as well as international brands.
Sometimes it becomes very difficult for car owners to find replacement parts in dispersed and unorganized market.

boodmo.com aims to become a trusted channel for both car owners and auto spare parts dealers to come under one roof in order to reap the maximum benefits out of it. Customers
can find the required automotive components using its online catalogue and can make their search through VIN, brand or part number. The enterprise aims to organize and standardize the Indian automobile spare parts marketand make it more dynamic and transparent for all the stakeholders.