Autobia secures $2.5 million in seed funding to revolutionize the automotive aftersales market in Saudi Arabia
Worth around SAR 21 billion, the automotive aftersales industry in Saudi Arabia is still largely operated manually with an inefficient process for ordering wholesale spare parts which is time-consuming and lacks a streamlined supply chain.
In response to this challenge,Autobia, a B2B platform for automotive aftersales and spare parts, is on a mission to transform the industry by providing a digital platform that streamlines the supply chain and empowers businesses. By offering retailers and maintenance shops a user-friendly app to order spare parts, Autobia is revolutionizing the way businesses operate in the industry.
Autobia's latest raise of $2.5 million in seed funding, led by Sadu Capital and supported by prestigious investors such as Wa'ed Ventures by Aramco, Raz Holding, Techstars, and a group of angel investors seems to be a significant step towards addressing the challenge of manual operations and inefficiencies in the industry.
With the funding, Autobia plans to expand its operations within Saudi Arabia and attract new segments in the automotive aftersales industry and its adjacent markets. Additionally, the investment will be used to bolster talent acquisition and technology development, strengthening Autobia's data-driven approach and infrastructure capabilities.
Since its launch in 2021 by serial entrepreneur Emad Daghreri and partner Ahmed Alawfi, Autobia has already facilitated the trading of over 1,000,000 spare parts through its platform. Leveraging its fulfilment centres in Riyadh and Jeddah and connecting to an extensive network of wholesalers, Autobia ensures unparalleled market availability. Currently supporting 23 brands, the platform has ambitious plans to expand its offerings as the company continues to grow.
