Boodmo raises Rs 40 crore in funding round

Start-up automotive spare parts e-commerce platform, boodmo.Com on Monday said it has raised Rs 40 crore in a fresh round of funding.

The fresh fund will be used to scale up the business, implement a new warehouse management system, improve delivery speed, and develop the supply side of the marketplace, the Gurugram-based firm said in a statement.

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At present, the company said it operates three fulfillment centers in Delhi, Bengaluru, and Jaipur. It has over 18 lakh registered customers and about 4,000 orders are placed on the website every day.

The latest funding increases the company's total capital value to Rs 100 crore. In March 2020, it had raised Rs 15 crore which increased the capital value to Rs 60 crore, it added.

Commenting on the fundraise, boodmo.Com Managing Director and Co-Founder Oleksandr Danylenko said, "We used the previous round of funding to confirm our business model and polish our logistics operations, with this investment we plan to expand our fulfillment centers and the focus on supply aspect of the marketplace."