Car aftersales services firm Autopair announced that it has raised an undisclosed sum from manufacturer Summit Auto Body Industry as part of its pre-series A funding round.
Autopair CEO Santi Vajanapanich / Photo credit: Autopair
The Thai startup will use the fresh funds to bankroll the launch of its new digital business management platform, aiming to help about 1,000 independent workshops digitize their work processes. Autopair’s new software-as-a-service offering streamlines solutions for calendar scheduling, tracking, and managing labor efficiencies and margins.
The company aims to serve about 10,000 independent workshops all over Thailand by 2024 and expand to neighboring countries such as Indonesia and Malaysia.
Autopair will also set aside some of the capital to bolster its procurement processes and manage the costs of workshops.
After initially focusing on offering a business-to-business online trading platform for car parts, Autopair has expanded to provide a virtual inventory and contactless delivery of these materials across Thailand. It counts firms such as Bridgestone Corporation, Toyo Tires, Nitto Automotive and Nankang Tires among its clients.
While there has been a slump in Thailand’s domestic car sales, there’s rising demand in the car maintenance space, which has recorded a compound annual growth rate of over 385% in the past three years, according to Autopair.