Description
Hoopy is technology driven ecosystem in Vehicle maintenance industry. They are using its tech-enabled operations to provide the best quality standardized maintenance and unparalleled convenience of doorstep services. The founders have domain expertise (Tech + Sales + Finance) and have a good pedigree from IIT-KGP. The company has generated revenue in FY 2017-18 of INR 66 Lakhs and estimating INR 1.5 Crore this FY 2018-19. They are currently present in Bangalore doing ~140 services/day and clocking a monthly run rate of INR 17.5 Lakh at present. The company has a Gross Margin ~3% annually with a Burn rate of INR 3 Lakhs per month. Gross Margin is expected to be ~25% annually in 24 months time. The company has Key customers such as- Bounce, Drivezy, Vogo, Rentomojo, Ontrack and Box8. IT Parks- ITPL, Vaswani Presidio.
- INR 20 Lakhs is committed from existing Investors including Anjani Rathor (CIO, Airtel), Jaymala Palit (VP, Active.ai)
- INR 30 Lakhs is committed by a Family Office- Venture Farmers
