Updated: June 28th, 2023 at 2:24 PM PDT
LAS VEGAS BASED TECH START-UP TO RAISE $2 MILLION IN PRE-SEED ROUND
LAS VEGAS, Nev. (Tech News) – Are you ready to enter the extraordinary world of Ankur Rai? This visionary entrepreneur is shaking up the aftermarket automotive industry like never before! In 2019, Ankur relocated from Monterey Park, CA to the heart of sports, entertainment, & future home of F1 Racing in Las Vegas, NV. He’s attended worldwide trade shows like SEMA, the ultimate B2B convention for auto parts, and is a fixture at community-based car meets like Gold Rush Rally. Join the movement and witness the incredible transformation of the aftermarket automotive industry with Ankur Rai at the forefront!
Enter Autobunch®, the tech startup Ankur founded that’s taking the hassle out of searching for and installing car parts. Based in the bustling and ever-progressive Vegas scene, Autobunch’s® goal is to simplify the way people shop for car parts and save them some cash in the process.
Follow us on Ankur’s voyage as we unveil his bold and innovative vision for the automotive industry’s future. Get ready for an exhilarating ride!
THIS LAUNCH SIGNIFIES A SHIFT IN HOW AUTOMOTIVE ENTHUSIASTS CAN FIND THE PARTS THEY NEED FOR REPAIR OR UPGRADE AT THE RIGHT PRICE WITH UNMATCHED CUSTOMER SERVICE. - ANKUR RAI, CEO AUTOBUNCH, INC.
Ankur Rai grew up in Southern California, where he fell in love with cars and racing. His passion for cars started when he made a feature as an extra in the first Fast & The Furious movie with Paul Walker back in high school that led him to pursue working with various parts manufactures that left a stamp in the industry over the last 20 years , where he gained the skills and knowledge needed to pursue his entrepreneurial dreams.
Ankur worked for several more companies in the aftermarket automotive industry such as Vertical Doors, Inc where celebrities made the lamborghini-style doors a phenomena during MTV’s Pimp My Ride days with Xzibit & West Coast Customs, even then Ankur saw the challenges that car enthusiasts and mechanics faced when it came to finding and installing car parts. He realized that there was a need for a streamlined process that could help people find quality parts easily and in a cost-effective way.
According to industry market data, Ebay Motors and CarID are two players in the aftermarket auto part industry, with impressive revenue numbers with $11 billion in 2021 and $200 million in 2022, respectively. However, despite their popularity, many people struggle to find the exact part that fits their vehicle, causing frustration and inconvenience. That’s where Autobunch® comes in with their innovative solution. By leveraging cutting-edge technology and data analytics, Autobunch® helps customers quickly and easily locate the right auto part for their specific make and model. With Autobunch® on their side, customers can shop with confidence and get back on the road in no time.
TOP COMPETITORS IN THE MARKET:
- Ebay Motors ( $11 Billion in 2021)
- Amazon Automotive ($10 Billion in 2022)
- CarID ($200 Million in 2022)
- Rock Auto ($40 Million in 2022)
- Andy’s Auto Sport (<$5 Million 2022)
PARTLY, a company that is based in New Zealand and operates in the same space as Autobunch®, has managed to secure over $21 million in Series A funding back in December 2022 participating investors include Square Peg, Blackbird, Ten13, Square co-founder Randy Reddig, Hillfarrance and I2BF. Existing investors such as Figma CEO Dylan Field, Notion co-founder Akshay Kothari and Rocket Lab CEO Peter Beck also participated according to Tech Crunch. Additionally, PARTSTECH, a B2B parts marketplace for auto repair industry has announced in May 2023 they closed a Series C capital raise of $35 million. The fundraising round was by OpenView, a renowned venture capital firm known for it’s deep expertise in scaling high-growth technology companies according to BusinesWire article. This impressive achievement serves as evidence that the auto parts industry is an investable space. With the success of PARTLY & PARTSTECH in securing capital, it is clear that investors believe there is potential for growth and profitability in this sector. As more companies like PARTLY and PARTSTECH continue to innovate and transform the auto parts industry, we can only expect to see further investment and progress in this field
The partnership between Autobunch® and SEMA Data in 2021 represents an exciting step forward for the industry. With the aim of streamlining the data process from suppliers, the non-profit organization is providing valuable information that is powering the industry and helping businesses improve their operations. Ankur Rai’s involvement in this initiative shows a commitment to the industry’s growth and success. The need for efficient data management has never been greater, and SEMA Data’s efforts to provide this information to suppliers and businesses alike are commendable. In 2021, this partnership opens up promising opportunities for collaboration and progress within the industry.
Ankur’s vision for Autobunch® was to create a platform where people could search, purchase, and install quality car parts knowing it was made for your vehicle trim. The platform would bridge the gap between car enthusiasts, mechanics, and parts suppliers, making the process easier and saving people time and money.
The Autobunch® platform is in pre-seed round funding stage that is looking to raise $2 million in capital to scale its business this coming year, giving way for cutting-edge technology to search for parts from multiple suppliers and present them to the customer. Customers can compare prices, quality, and delivery times, empowering them to make the best purchasing decisions. Before the parts arrive, Autobunch® can connect customers with certified mechanics to install the parts, making the process hassle-free all through the Autobunch® App.
Since its pre-launch, Autobunch® has been making waves in the automotive industry. The company has many customers who are social media influencers in the industry which has helped Autobunch® gain recognition from industry leaders as a game-changer in the automotive aftermarket parts space.
Ankur Rai is a visionary entrepreneur who has brought innovation and progress to the automotive industry. With the launch of Autobunch®, he is making way for the process of finding and installing car parts easier and more affordable for everyone.###
We hope this blog post has given you insight into Ankur’s journey and vision for the future of automotive aftermarket parts industry.