Automobile industry in India accounts for nearly 7.1 percent of GDP. In India, the annual production of automobiles is a little over 25 million vehicles. As much as 81 percent of market share is occupied by the two wheelers as majority of Indians belong to middle class and lower middle class families. Automobile industry is making its presence in rural markets as well. It is only a matter of time that India will soon emerge as a leader in global markets. Here is a brief run-down on the Indian startups that are making it big in automobile space:
Zoomo is a Bengaluru based startup that lets you to buy and sell cars. In 2014, this startup received $1million in seed funding from SAIF Partners. This startup is more of a marketplace where buyers and sellers are connected with one another. Its operational markets are in five cities- Delhi, Bengaluru, Mumbai, Pune and Chennai. The interesting thing about Zoomo is that all the listings on this platform are currently free.
This is a startup based out of Gurgaon that makes the complete process of buying and selling cars hassle-free. Cars are valued at reasonable prices and each and every car listed on Spinny is thoroughly inspected. Also, a comprehensive warranty of 1 year is provided to its customers. All the related documents are transferred to either Buyer or Seller by Spinny with absolutely zero hassles.
The founders of this Pune based startup are Sagar Apte and Deepak Thomas. CarIQ is a simple yet effective plug n play device for cars. This device is equipped with an in-built GSM technology. This device collects data from Car engine, ABS, air bag system etc.., which is sent to cloud. In the cloud, the collected data is processed and sent to the users. Users can view the result over the web. Prospective defects can be rectified and internal performance parameters can be assessed. This device is compatible with majority of car manufacturers such as Toyota, Mahindra and Hyundai.
CarDekho is a Ratan Tata backed rich automotive platform. CarDekho has already raised $65 million is trying to expand its presence in other cities. CarDekho brings to its readers to-the-minute insights from around the world. Be it a newbie, an auto freak, or a layman in terms of complex car engine and performance terminologies, CarDekho is the place where you can read fresh news, and road tests. In addition, you can browse recently shot images and videos, compare car features, prices, and other car specifications.
Vinay Sanghi started CarTrade in 2009. Prior to catching this startup bug, he worked as the CEO of Mahindra First Choice Wheels. CarTrade.com went digital in 2012. This website connects customers and dealers where both the categories cherish win-win situations. CarTrade has 250+ employees. With approximately 4 million monthly visitors, CarTrade seems to flash and flash hard.