Chennai Angels invests in Pune-based start-up

Iradium Automobiles owns and manages SparesHub.com, an automobiles parts marketplace catering to the requirements of car parts of independent multi-brand workshops and car owners across India. There are over 23 million cars in India and the automobile parts replacement market is estimated to be worth $8 billion growing at an estimated 12 -14 per cent year on year. The traditional car parts industry is evolving fast with many car makers opening and promoting the open sale of car parts to multi-brand workshops and car owners. SparesHub offers an extensive range of parts like braking system, clutch system, suspension system for cars along with regular service parts. 

The investment funds would be used to grow its customer base and expansion activities. 

SparesHub has 170 plus registered workshops on its platform. This is the second investment round that the startup has raised. The first investment round was raised in Oct 2015. 

“Given the fast-growing automobile industry and aftermarket, Spareshub is uniquely positioned to tap the consequent emerging opportunities in the sector,” said Mahalingam a Chennai Angels investor.