Mumbai-base E-Commerce platform aims to streamline the fragmented spare parts market and capture a 1% market share by 2024.
Mumbai, India – sparebees.com an innovative e-commerce platform, is set to transform the Indian automobile industry by providing streamlined access to automobile spare parts. Founded by young entrepreneurs Arul Pandiyan and Fareen Afsal, and backed by international investors, Ganesh and Jayanthan Venkatraman (France) and Krishnamani Kannan (Singapore), the company is working to address the lack of organisation and accessibility in India’s spare parts market.
The founders identified a significant gap in the market, with no dedicated e-commerce platform for sourcing spare parts. This has long plagued India’s vehicle owners and mechanics, who are often faced with delays and challenges when trying to source necessary components. SpareBees’ mission is to eradicate these barriers by creating a seamless supply chain, making spares easily available to millions of mechanics and vehicle users across the country.
India is home to an estimated 15 million mechanics and a staggering 322 million two-wheelers. Despite this massive potential customer base, the spare parts market remains highly unorganised, resulting in inefficiencies and frustration for consumers and mechanics. SpareBees aims to change this by connecting customers directly to wholesale suppliers, eliminating delays and ensuring the availability of high-quality parts.
With a dual B2B and B2C revenue model, SpareBees is targeting an ambitious 1% market share by the end of 2024. Their platform not only simplifies the process of sourcing spare parts but also empowers small businesses and individual mechanics to access a wider range of components, enhancing their service capabilities and bolstering the overall health of the Indian automobile industry.
As the Indian economy continues to grow, SpareBees’ innovative solution to a long-standing issue in the automobile sector stands to improve the lives of millions of vehicle owners and mechanics, streamline the spare parts supply chain, and create a more efficient and accessible market for all.
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