Funding News: Amicco Raises $1 Million Seed Financing to Transform Automotive Spare Parts Procurement

Startup:  Amicco

Founder: Vivek Aalok

About us: Amicco is a pioneering B2B marketplace dedicated to revolutionizing the way businesses source and supply spare parts across various industries. Our platform seamlessly connects manufacturers, distributors, and end-users of spare parts, enabling a more efficient, reliable, and cost-effective procurement process. With a strong focus on industrial, automotive, and electronics sectors, It offers an extensive catalog of quality spare parts from trusted suppliers worldwide.

Founded Year: 2024

Office: Gurugram, Haryana, India

Sector: Technology, Information and Internet

Funding Round: Seed Round

Investors: Eximius Ventures (Lead Investor), FJ Labs, Other Undisclosed Investors

News: Amicco, a B2B marketplace focused on automotive spare parts, raised $1 million in seed capital, led by Eximius Ventures, in an investment round. The capital will be used by the company to scale its network and develop its procurement platform aimed at independent garages. The funding round, which came to a close on April 9, also included FJ Labs and other investors. Amicco will use the funds to strengthen its technology infrastructure as well as extend its operations from its existing site in Gurgaon.

Amicco was founded in 2024 by Vivek Aalok with a view to addressing the disjointed supply chain issues experienced by independent garages in India. The company aims to provide uniform pricing and better visibility of spare parts, thus reducing vehicle downtime and optimizing service delivery.

"We understand that the problems in this industry are very complex, and we think that technology can be a revolutionary solution to address the on-demand requirements of the business," said Aalok, who was earlier the Head of Business at Spinny and has worked at J.P. Morgan on Wall Street.

Website: https://www.amicogroup.com/