HomeFunding AlertFunding: Wisedrive Raises Undisclosed Seed Fund

Funding: Wisedrive Raises Undisclosed Seed Fund

A car extended warranty platform, Wisedrive, has raised an undisclosed amount of Seed fund. The funding round was led by LC Nueva Alternative Investment Fund (AIF) and Spiral Ventures, Bhavadeep Reddy, an angel investor and co-founder of HousingMan.com, participated in the round.

Wisedrive claims the funds raised will be used to broaden the platform’s reach by partnering with all used car dealers and more authorized service centres in metros for customers to maintain their vehicles and developing warranty technology to foster confidence in the used car industry.

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Wisedrive partners with authorised service centres to maintain the cars of warranty holders. The company will soon partner with OEMs directly, giving them pan-India exposure. They are currently operating in Bangalore, but they intend to expand their operations to all metro cities in the next 12 to 18 months, the company claimed in a statement.

Founded in 2019 by Kevin Kuusik, and Norman Kolk, Wisedrive’s extended warranty comes with free maintenance of used cars at manufacturer-authorised service centres and pan India roadside assistance at no additional cost.

Read Also: Funding: Shiprocket Raises $33.5 Mn at $1.23 Billion Valuation

Ankush Kumar
Ankush Kumarhttps://www.marketmoney.in
Ankush Kumar is the Founder of Market Money. He is an expert in Banking and Finance. He has appeared in B.Com (Banking & Finance) From Govt. College in Lucknow.

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