Car Service start-up company AutoBrix has recently acquired Cartisan- a Xenon Automotive Artificial Intelligence-based company on 5th November 2020.
AutoBrix is a Car Service platform that provides services like Door-Step Car Wash, Car SPA etc. The acquisition is of crucial significance to AutoBrix as because of it, the start-up will be able to enter a new market of periodic repairs and car maintenance which allows the company to offer door-step services to its customers making the services more efficient for the company as well as the customers.
As a matter of fact, after the acquisition procedure completes, the founder of Cartisan, Venkat Sreeram will join AutoBrix as an advisor.
Back in 2018, Pratibha Shalini and Kalyandhar Vinukonda founded the car service company, AutoBrix. The company is based out of Bengaluru and provides doorstep car services across all metropolitan Indian Cities to an approximate number of over one lakh customers.
Furthermore on the story, this is not the company’s first acquisition; AutoBrix has previously acquired two start-ups called Carnanny and Washygo both of which are from the Car Service niche. In totality, AutoBrix has raised over USD 2.5 million in three funding rounds from angel investors with Veera Ventures being an Angel Group while Bobby Reddy, Karan Kumar, Lalit Agarwal and Apoorva Sharma being individual Angels.
Founder, CPO and COO of AutoBrix, Pratibha said in a statement during a press release that,
Cartisan will help AutoBrix acquire more market share. There are two most significant factors that the company looks for before acquisition and those are, a strong product with a pre-established user base and potential customers after the acquisition. She says, Cartisan brings value in both these segments and hence, becomes a valuable business for acquisition.
This acquisition brings AutoBrix in a much superior position than all of its competitors in the car service market. Cartisan will add more technical support and a unique computer-based vision. Not to mention the highlight feature of Artificial Intelligence technology that will help the car owners identify and evaluate the car damage by the condition of their car through images captured by the AutoBrix application. This will further provide instant standard repair cost estimates to the customer.
This technology will help AutoBrix in being transparent with its customers with specific needs of repair and maintenance.
According to a report by India Brand Equity Foundation (IBEF), India became the fourth largest automobile market in the world and is speculated to move down Japan to acquire the spot of the third largest automobile market in the world by 2021.
Cartisan will lead the way for AutoBrix as a business, it will scale up the technology and car service verticals of the company and leverage the already existing user base of Cartisan over the past five years. The ultimate goal of AuoBrix and Cartisan is to provide maximum value and effortless experience to their customers which will become much more efficient after their acquisition.