Aditya Hadi Pratama · · 1 min readQuest Ventures leads $700k round of Kazakh automotive startup
CTOgram, a Kazakhstan-based automotive startup, has raised US$700,000 in a seed round led by Quest Ventures. Other investors that participated in the round include Most Ventures and Adil Nurgozhin – a former board member of Kazakhstan’s sovereign wealth fund.
The deal boosts CTOgram’s valuation to around US$5 million.
CTOgram team / Photo credit: CTOgram
Founded by Zhandos Tursumbayev in 2014, CTOgram helps customers buy automotive spare parts and get vehicle services such as maintenance and washing. The startup currently has 180,000 registered users and more than 1,100 partners providing vehicle services on its platform.
In a statement, the company says that it is the largest car after-sales platform in Central Asia.
CTOgram will use the fresh money to expand across the region and provide more support to vehicle owners. It also has a plan to expand to the USA.
The startup previously raised an angel round from Olzhas Zhiyenkulov, Talgat Ismail, Anuar Seifullin, and Ruslan Rakymbay. It currently has 15 employees, most of them working in the sales division.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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