Auto aftermarket platform Dr.Car raises KRW 13 billion in Series A funding
South Korea-based Autopedia, which operates Dr. Car, an automotive aftermarket management platform, has raised KRW 13 billion in Series A funding. Stick Ventures, SBI Investment, CJ Investment, KOSME(Korea SMEs and Startups Agency), IBK Capital, ID Ventures, and HL Holdings participated in the investment.
With the motto of “building a transparent maintenance market,” Dr.Car provides various vehicle troubleshooting and distributes imported car parts and supplies based on automotive experts with more than 10 years of experience in the field. In addition, in the second half of last year, the company launched ‘Quantum Mobility’, a brand specializing in imported car repair, and is making every effort to secure customer trust by entering the direct maintenance market.
Autopedia has been growing rapidly since its seed and pre-Series A investment in 2021, completing a large Series A investment in about a year and a half. This is a remarkable achievement, especially in a frozen investment market.
“We believe that Dr.Car’s business model will be effective in the maintenance market, where there is a large information asymmetry. The Dr. Car service does not charge fees to affiliated workshops and increases consumer access to the market through expert help.” “We expect Autopedia’s role in building a nationwide network of workshops to become even more important in the era of electric vehicles, where brands will diversify,” he said.
“We plan to improve our Dr. Car service to make it more customer-friendly so that customers can experience transparent and high-quality services, and expand our market influence by increasing our quantum mobility branches this year,” said Kim Byung-geun, CEO of Autopedia, adding that customers can look forward to Autopedia’s differentiated aftermarket services later this year.
Meanwhile, Autopedia plans to use the investment to complete the verticalization of the automotive aftermarket from online platforms to offline services.
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