PUNE: Cybage co-founder Deepak Nathani has invested an undisclosed amount in vehicle maintenance startup Demyto for a 20% stake in the company. Demyto, or deal with my auto, was set up in 2015 in Pune and offers car servicing, as well as allied products like tyres and spares along with insurance services through its Web-based platform.
Kaustubh Konkar, the cofounder of Demyto, said the company has created a technology-enabled interface that could be used to offer services like usage-based insurance where onboard diagnostics would be needed. “At present, we work with 110 service stations in Pune and offer both B2B and B2C services,” he said. The company works largely with cab companies and tour operators, taking charge of vehicle maintenance for these firms.
Car servicing in India can be an opaque affair, with customers often not sure whether they have received the services they have been billed for. “Having someone in the middle who can ensure fairness, value and quality is a big thing. I liked that, along with the e-commerce angle with complete transparency built in,” said Nathani.
He added that he would be keen on participating in the subsequent rounds of funding that Demyto would raise in the future. The company would look at using the Internet of things in a big way, for which the technology platform and smartphone apps are already in place.
Konkar said next on the agenda was expanding into other cities, starting with Mumbai and Bengaluru, for which the feasibility study had already been done. Alongside, he would pursue a franchise model for growing in tier-II towns.
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Source: Economic Times
