Autobia: Transforming Automotive Spare Parts, Targeting Expansion at ComeUp2023Reading Time: 3 minutes
[Editor’s Note] ComeUp 2023 has truly become a global startup festival, with international startup teams making up 60% of the total participants. In a mini-interview, Wowtale introduces some of the foreign startups taking part in this event. Special thanks to BigBang Angels and Oumaima.
Autobia, a groundbreaking B2B marketplace based in Saudi Arabia, is transforming the automotive spare parts industry by introducing innovative technological and logistical solutions. This platform connects retailers and maintenance centers with an extensive network of wholesalers, significantly simplifying the sourcing process. Unlike traditional marketplaces, Autobia leverages data models for forecasting, distribution, and price stabilization, addressing the current industry challenges of data scarcity and price fluctuation.
The company’s achievements are notable. This year, they secured $2.5 million from three major Saudi VCs, sold over 1 million spare parts, served more than 1000 businesses, and processed over 16 thousand orders, with 60% being fully online. This success represents a substantial shift in the marketplace.
Their participation in ComeUp 2023 is driven by a desire to engage with the South Korean automotive market. Recognizing Korea as a key player in the automotive industry, Autobia aims to establish partnerships and gain insights into the local ecosystem, particularly the spare parts supply chain. They plan to open a commercial license in Korea, fostering a collaborative business relationship and integrating into the Korean startup ecosystem. This move signifies Autobia’s commitment to global expansion and innovation in the automotive spare parts sector.
Q1. Please introduce your company and your product.
Autobia is a B2B marketplace that revolutionizes the automotive spare parts industry in Saudi Arabia by providing technological and logistical solutions to the entire supply chain. We connect retailers and maintenance centers with the most extensive network of wholesalers, streamlining the sourcing process. We aim to transform the automotive after-sales landscape, empowering businesses with a platform driven by innovative technology and insightful data.
Q2. What are the key strengths of your product or service?
Today in the spare parts industry in Saudi, there are hundreds of thousands of spare parts and transactions and there is no data inside, no forecasting and there is fluctuation in pricing. And data models are playing a main role in my start-up because we need to understand the forecast, distribution, and stabilizing prices. And this is what differentiates us from other marketplaces.
Q3. What have been your achievements so far?
We closed with 2,5 million dollars this year with 3 big VCs in Saudi Arabia. We sold more than 1 million spare parts through our marketplace so far. We served more than 1000 businesses in Saudi as our customers and we processed more than 16 thousand orders and 60% of the orders are now 100% online. We did a huge shift in this marketplace.
Q4. What motivated you to participate in ComeUp 2023?
As an automotive forecast marketplace, Korea is really one of the main suppliers of the automotive industry. We were interested to be here to know the Korean startups, Korean companies and try to have some kind of partnership directly so we can help each other, and for us to understand the ecosystem here for the automotive spare parts supply chain and improve our marketplace based on the knowledge we gained from the ComeUp2023.
Q5. What type of collaboration do you anticipate with the South Korean startup ecosystem?
We are looking for other marketplaces here for our industry to be able to connect and have a common business together. One of our plans is to open a commercial license here in Korea, so we can have this business and trade relationship.
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