Fixit45, a pioneer in the aftermarket for automotive technology and an innovative startup in Nigeria has received US$1.9 million in pre-seed funding to help it grow.
Launch Africa Ventures led the pre-seed round, which also included a variety of angel investors and investors like Soumobroto Ganguly and Dave Delucia.
Fixit45 was founded in 2021 with the goal of streamlining the car industry’s supply chain for spare parts so that both customers and companies can take advantage of streamlined processes.
The startup serves close to 4,000 clients through a network of more than 300 operating workshops located across nine Nigerian cities. Additionally, Fixit45 links with 1,200 merchants, distributors, and manufacturers of spare parts, including market leaders Toyota, Nissan, Honda, Hyundai, Ford, Jeep, Mitsubishi, Mikano, GAC Motors, and numerous other well-known distributors.
“This funding represents a pivotal moment for Fixit45. We are profoundly grateful to our investors for their faith in our vision and our unwavering commitment to revolutionizing the African automotive aftermarket sector. With this capital infusion, we are well-positioned to advance towards our expansion objectives,” said Pankaj Bohhra, co-founder and COO of Fixit45.
With the funding, Fixit45 plans to broaden its presence and influence in Africa’s automobile aftermarket sector. With a specific emphasis on its vehicle repair business, the company has set aside this money for strategic expansion plans. At the same time, it is stepping up efforts to distribute spare parts through its online-to-offline network, xparts.africa.
Additionally, Fixit45 is preparing to enter the East African market with a focus on Kenya and Uganda.
Read more on Tech Gist Africa:
Mecho Autotech, based in Nigeria, has raised $2.4 million in pre-Series A funding
Nestcoin, a Nigerian cryptocurrency startup, has received $1.9 million in funding
Itana, a Nigerian startup, has secured $2 million in pre-seed funding
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