Riyadh – Autobia, a business-to-business (B2B) platform for automotive aftersales and spare parts, has concluded a $2.50 million seed funding round.
The fundraising transaction was led by Sadu Capital and backed by Aramco’s Wa’ed Ventures, Raz Holding, Techstars, as well as angel investors.
The B2B platform will utilise the proceeds of the funding to scale up operations in the Kingdom and attract new segments in the automotive aftersales industry. It also plans to invest in technology development and reinforce its data-driven approach as well as infrastructure capabilities.
Autobia aims to reshape the automotive aftersales market in Saudi Arabia by securing a platform for retailers and maintenance shops to order wholesale spare parts through its app.
Founded in 2021, the platform bridges the gap between supply and demand, while giving businesses access to the digital and logistical infrastructure needed to succeed in a rapidly evolving market.
Ahmed Alawfi, Co-Founder of Autobia, highlighted Autobia's core mission to transform the industry through streamlined supply chain solutions, bolster operational efficiency, unlock greater sales potential, and provide customers with enhanced services.
Emad Daghreri, Co-Founder and CEO of Autobia, said: “'We are dedicated to ushering the automotive aftersales industry into the new era of digitization in Saudi Arabia.”
Qusai Al Saif, CEO of Sadu Capital, noted: “We found that the automotive aftersales industry in Saudi alone is worth SAR 21 billion, and it is still operated manually."
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