MySyara secures $650,000 in pre-Series A round
MySyara secures $650,000 in pre-Series A round
Dubai-based online automotive platform, MySyara, has secured a $650,000 pre-series A funding round. The investment was facilitated by JRC Corporate Consulting and attracted ten investors to participate in the round.
Launched in 2019, the startup offers the region’s first car maintenance app, providing a one-stop-shop for complete car care solutions. The announcement comes after it recorded 600 per cent year-on-year revenue growth.
MySyara will utilise the investment to expand its operations as well as launch a new service package in Q2 2021 to provide car owners with a more convenient way to manage their vehicle’s servicing and maintenance, offering a range of benefits that will include a pick-up and drop-off service, doorstep cleaning, routine servicing and roadside assistance.
The company is set to extend its services to customers in Abu Dhabi and Sharjah in Q1 2021, expand its customer base as well as offering users of the app the flexibility to service their vehicles across the UAE.
“Since the outset of the Covid-19 pandemic, with its resulting lockdown and social distancing implications, car owners have sought safer ways to maintain their vehicles without leaving their own home. With owners increasingly retaining their existing cars instead of replacing them, keeping them in top condition is more important than ever.,” said Chirenj Chandran, co-founder and CEO of MySyara.
MySyara’s expansion was aided by the $2.8M acquisition in 2019 of SKKYN Technologies, an on-demand car wash app that provided eco-friendly and convenient car wash services to a customer’s preferred location.
“In my work helping business owners establish new companies I have rarely seen a start-up with as much promise and potential as MySyara. I could quickly tell that, with the automotive market conditions as they are and the adaptability of Chirenj, Anser and the team, they are building a truly disruptive business that will conquer new markets in no time. This is why I personally chose to invest in MySyara and join them on this journey of growth,” said Steve Mayne, managing partner at Creative Zone.
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