Motozite, based in Gurugram, was founded in 2021 and has raised an undisclosed amount of funding from We Founder Circle. The company is constructing an integrated digital ecosystem to provide luxury car buyers and sellers with a one-stop solution. The startup is attempting to address the current issues of a broken customer journey and the efforts made by a customer to find the right car. Abhinav Verma and Rahul Tiwari, the co-founders, have over 30 years of combined experience in the automotive and management consulting industries.
Considering Fund Raising “We are proud and excited to be associated with We Founder Circle,” said Abhinav Verma, Co-founder of Motozite. We see WFC as a perfect launchpad for our startup, despite the fact that we are only a few months old. We are confident that our partnership with We Founder Circle will not only assist us in scaling our operations, but also in forming strategic alliances that are critical to our growth. The three most important market success factors are trust, transparency, and convenience, all of which are lacking in the unorganised sector, and we will address this with our digital approach.
The funds raised by the brand will be used to improve customer acquisition and technological development in order to create a model that integrates all industry stakeholders on a single platform. Brands are investing in digitising the industry in order to provide customers with a seamless experience that includes options such as digital documentation and digital payment.
“The luxury car market is at the right stage to be disrupted. Motozite team, within a short span of time, has shown that with the right experience and strategy they can change the way people shop in this luxury segment. We back them because of the strong team background and quick execution capabilities”, said Bhawna Bhatnagar, Co-founder, We Founder Circle.
The luxury pre-owned car industry is expanding at a double-digit rate, and this trend is expected to continue for many years as mobility ownership in the country grows. However, the market is still very fragmented, and organised companies, such as authorised dealerships for luxury brands, have a lot of room to grow.
