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Boodmo Raises 40 crores in its Fresh Round of Funding

The company will use the fresh round of funding to scale the business, implement a new Warehouse Management System, improve delivery speed, and develop the supply side of the marketplace

Boodmo.com, a Gurugram based spare parts e-commerce platform, has raised 40 crores in a fresh round of funding, increasing its total capital value to ONR 100 crore. The company will use the fresh round of funding to scale the business, implement a new Warehouse Management System, improve delivery speed, and develop the supply side of the marketplace.

Currently boodmo operates 3 fulfillment centres in Delhi, Bangalore, and Jaipur. It has over 18Lcustomers in its registered database and about 4000orders are placed on the website every day. During a 2021 lockdown boodmo was the only available source of spare parts online and did not lay off anybody or cut salaries during the pandemic. The company used the previous round of funding to improve quality processes at its fulfillment centers and wide inventory with the same-day dispatch of up to 37000 SKU.

Commenting upon the freshly raised capital, OleksandrDanylenko, Managing Director and Co-Founder, boodmo.com says, “We used the previous round of funding to confirm our business model and polish our logistics operations, with this investment we plan to expand our fulfillment centers and the focus on the supply aspect of the marketplace.”

A unit of Smart Parts Online Pvt Ltd, Boodmo.com, was launched in 2015 by Ukrainian entrepreneurs YevgenSokolnikov and OleksandrDanylenko. In March 2020, Boodmo raised funding of 15 crores which increased their capital value to 60 crores; in a new round of funding, the company raised 40 crores increasing the capital value to 100 crores.

Source: Business World

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