Fixit45, an African autotech aftermarket sector, has raised $1.9 million in equity and working capital at a recent pre-seed funding round.
The investment round was led by Launch Africa Ventures, along with prominent investors Soumobroto Ganguly and David DeLucia. An array of angel investors also joined the round, underscoring their confidence in Fixit45’s vision and potential.
This capital injection marks a pivotal moment for Fixit45 as it aims to extend its influence within the automotive industry. The funding will be used to drive the growth of existing business operations in Nigeria by investing in technology and ambitious expansion plans with a primary focus on enhancing spare parts distribution through its O2O platform xparts.africa and venturing into new markets in East Africa, particularly Kenya and Uganda.
Pankaj Bohhra, co-founder and Chief Operating Officer at Fixit45, expressed his excitement about this financial milestone, stating, “Our team is thrilled to see such strong support from investors who share our vision of transforming the automotive aftermarket sector in Africa. With this capital infusion, we are well-prepared to take the next steps in our expansion Journey.”
