Sequoia India’s Surge leads $2m round in Indonesian automotive service firm

Otoklix, an automotive aftermarket services platform, announced it has raised US$2 million in a funding round led by Sequoia Capital India’s Surge.

(From left) Otoklix chief operating officer Benny Sutedjo, CEO and co-founder Martin Reyhan Suryohusodo, and co-founder Joseph Alexander Ananto / Photo Credit: Otoklix

GK Plug and Play, Kopi Kenangan’s Kenangan Investment Fund 1, Lentor Ventures, Noble Star Ventures, and Waresix founder Andree Susanto also invested.

Founded in 2019, Otoklix allows users to book services online at a recommended independent workshop nearby and at a standard price. Car owners also receive a warranty for all transactions with a partner workshop and can track their repair and maintenance history using the application.

The Indonesia-based startup also provides customer relationship management and supply chain management solutions for independent car workshops.

Otoklix will use the funds to drive its plans to partner with 500 workshops, service 100,000 cars monthly, and procure 75% of wallet share by partner workshops by December 2021.

“Indonesia’s automotive aftermarket sector is somewhat fragmented, creating numerous pain points for consumers due to a lack of information transparency. But it is also a relatively underestimated market that holds great potential,” said Martin Suryohusodo, co-founder of Otoklix.

See also: Here’s why Asia’s auto giants want a piece of the ride-hailing pie

The company claims to have grown its revenue by 13x and its customer base by 40x between April and October 2020.

Some of the key players in the global ecommerce automotive aftermarket space are Advance Auto Parts, Alibaba Group, Amazon, Arch Auto Parts, and AutoAnything.