Automovill raises $500,000 in bridge round from Mumbai Angel Netwrok

Automovill, a full-stack mobility startup has raised $500,000 in a bridge round from Mumbai Angels Network, along with its existing investor NEDFi Venture Capital. The round was led by Jay Nagrecha and Sandeep Daga, participating through Mumbai Angels Network in the fundraising. With the latest fundraise, the startup has raised $1.2 million since its inception.

A major portion of funds raised will be utilised in bolstering technology adoption, expanding the company's footprint in multiple cities and mid-level hiring to manage the growing business. Automovill will also use the funds in ramping up the infrastructure of its existing partner and hub networks.

Nandini