Hoopy raises funds from Lead Angels, Venture Farmer

Bangalore-based vehicle maintenance startup Hoopy has raised an undisclosed amount in its recent round of fundraise from Bangalore-based family office Venture Farmer and Lead Angels Network. Venture Farmer's contribution was advised by CreedCap Asia Pvt. Ltd.

The automobile service industry is huge and highly unorganized where 70% of the market share is captured by the local garages. Two-wheeler service industry in India alone stands at $6 billion today. Founded in 2016 by Abhinav Shrivastava, Vedic Choubey (IIT Kharagpur) and Shashank Dubey (BIIB Pune), Hoopy is a technologically-connected ecosystem for the vehicle after-sales service industry.

Shrivastava said in a statement, “Tech-enabled operations will be the game changer of this technology starved industry. Hoopy will use this fund in its product development and refinement to further improve customer service and operational efficiencies.”