Ecommerce start-up UpScalio invested in four auto accessories brands
Roll-up ecommerce startup UpScalio invested in Autofurnish, which operates four online-first auto-accessories brands—Autofurnish, Destorm, Urban Lifestylers and MotoTrance.
These four companies sell car foot mats, car body covers, and bike body covers on Amazon and Flipkart. UpScalio aims to increase the brands’ visibility in auto covers, mats, car organisers, eectricals, and other related products. By allowing customers to purchase multiple accessories in a single transaction, UpScalio will improve customer experience and connect. To promote the brands, it will also enter new marketplaces, vertical channels, and form partnerships with auto enthusiast communities. According to UpScalio, these brands have an ARR of 100 crore.
Roll-up e-commerce start-up UpScalio on Monday announced that it has invested in four auto accessories brands: Autofurnish, Destorm, Urban Lifestylers, and MotoTrance. The brands are leading manufacturers of car foot mats, car body covers and bike body covers with prominence across Amazon and Flipkart.
UpScalio to utilise brands’ websites to bolster customer experience.
Roll-up e-commerce start-up UpScalio on Monday announced that it has invested in four auto accessories brands: Autofurnish, Destorm, Urban Lifestylers, and MotoTrance.
The brands are leading manufacturers of car foot mats, car body covers and bike body covers with prominence across Amazon and Flipkart. UpScalio aims to boost the brands’ presence in auto covers, mats, car organizers, eectricals, etc.
Utilising the brands’ websites, UpScalio will bolster customer experience and connect by ensuring they purchase multiple accessories in a single transaction. It will also expand into new marketplaces, vertical channels, and partnerships with auto enthusiast communities to promote the brands.
UpScalio estimated these brands to have an ARR of ₹100 crore.
Gautam Kshatriya, Co-Founder and CEO, UpScalio said, “The category has a committed customer base, and has incredible growth potential. All four brands have successfully used variety and customisation to grow. Scaling them will require a dynamic mix of product expansion, customer engagement, and key partnerships to solidify their leadership position. The founders have built much-loved brands and we’re thrilled to partner with them to grow them exponentially.”
UpScalio, a Thrasio-style venture that finances e-commerce brands, has invested an undisclosed sum in four auto accessories brands – Autofurnish, Destorm, Urban Lifestylers, and MotoTrance, the company said in a statement on Monday.
UpScalio aims to boost the brands’ annual revenue rate to Rs 100 crore by leveraging their direct-to-consumer (D2C) websites, foraying into newer domestic and overseas markets, and engaging in partnerships, the statement says.
UpScalio forayed into the premium consumer appliances market with its investment in Kitchen Appliances Brand Hestia last month.
Established by Puneet Arora, Ruppal Wadhwa, and Chakit Khattar, these brands are manufacturers of car foot mats, car body covers, vertical channels, and bike body covers, with a presence across Amazon and Flipkart
Arora has earlier worked with Birlasoft, Polaris, Solidcore Systems, and has over 18 years of experience. Wadhwa has over 15 years of experience in the manufacturing and trading of auto accessories, and Khattar has over 10 years of experience, working with Naaptol, Intex and LetsBuy.
Founded in April 2021, UpScalio provides funds to digital brands selling on ecommerce marketplaces like Amazon, Myntra, Flipkart and Nykaa. It manages their key operations, including multi-marketplace management, digital marketing, branding, logistics, sourcing, finance, and business operations.
The company was founded by Gautam Kshatriya, a former consultant with McKinsey & Company; Saaim Khan, a former Consultant at Bain & Company and former Marketing and Growth Executive at Purplle, Nitin Agarwal.
The company plans to scale the digital brands’ business by 5-10x, providing a full exit to the entrepreneurs over time. It has a team of 50 specialists across functions to facilitate these brands to upscale their businesses, and plans to double the team to 100 by end of the year.
In November, in an interview with VCCircle, Kshatriya said “We are open to businesses across e-retail, but we like businesses that are utility-oriented and functional in nature. We look at businesses that are less perception-oriented. So, we would love to invest, as we have, in ergonomic chair brands such as Green Sole”.
“We would love to invest in a Trase kind of company, as it makes functional or orthopaedic footwear. Segments we are less interested in are fashion and beauty because they are largely driven by consumer tastes and trends that change very quickly,” he added.
In August, UpScalio raised $42.5 million in a Series A funding round led by Presight Capital and an undisclosed global hedge fund.