Owning a vehicle these days is not an issue, getting it serviced at regular intervals is the main concern. How do I get my car serviced without hampering my work life? Moreover, one’s car could break-down at any point without any prior notice, especially when the heat blaze is on. Having a service by your side during emergencies will not hurt. Doorstep repairs, emergency pickups and reliable service centres, are more like a dream these days, in this era where everything works on ‘Jugaad’. A sense of reliability seems to have disappeared, to kick-back the faith of car owners in repair services, ServX came into being.
About, Services & Team
Founded by Akansh Sinha and Anubhav Deep in November 2015, the startup aims to become the one stop solution for car services and repairs. Akash isn’t wrong when he says there’s a chaos of differentiation between the verified car centres and unverified & cheap service shops. Empowering the customers ServX aims to become a multi-brand, multi-vehicle platform which targets at becoming an end-to-end solution for the automobile industry.
From emergency pick-ups, doorstep repairs, regular maintenance, servicing to insurance, body shop modifications, cosmetics etc, ServX is targeting the untapped sector of car owners. The company has already tied up with 100 authorised vendors in Delhi NCR and is now covering almost every brand under its retail.
Along with their peers and Govardhan Reddy from IIT Delhi, completed the founding team in unparalleled ways. The startup has a core team of 15 people, varying from Engineers to Designers. Akansh co-founded Udaan foundation in 2014 to empower the education sector in India by connecting the learners with educators. Akansh defined his work as ‘looking after the consolidation and scaling of different programs being run by the organisation.’ Anubhav brings in the automobile domain expertise, his family having worked for different automobile companies for the last 30 years.
The company is coming up with its own OBD-II (On-Board Diagnostics) devices, which will connect users with their cars through a mobile app. Where one can know the current status of the car, when does it needs repairing, how one should drive to keep the vehicle healthy etc. “We’ll be rolling out the device in another three months or so” said Akansh.
What Differentiates ServX From Other Startups Working in Similar Segment
When asked about the same Akansh quoted, “We only have authorised service providers on our platform. The training procedures, verifications and quality checks which other unauthorised service centres lack is already been covered as our service providers are already approved by the manufacturer itself. Also, it develops a sense of satisfaction and trust within the user. Makes one care-free, as they know their car is in good hands.”
The price parity is the only challenge the startup is facing, what makes people run towards the unauthorised centres. The biggest factor here is the price, Akansh stated that they’re trying to stabilise the prices. The other factor would be accessibility, Maruti and Hyundai have a huge network of centres, but other brands are still catching up, stated Akansh.
Monetisation & Traction
The startup monetises on a commission based model, where ServX charges 20-25% on car cosmetics (washes, spas, dry-cleaning etc) and 10-15% when it comes to regular maintenances and repairs (depending upon the manufacturer).
The company claims to have 50 orders a day since its inception in November last year. They have already got about 2000 car serviced and repaired, and reached a number as high as 5000 as far as car washes/cosmetics are concerned.
Funding & Market
The company raised an undisclosed amount by an undisclosed HNI when they started their operations. “We’re looking at a pre-series A round of about $1 million and are already in talks with a few venture funds.” Also, Akansh further stated that the company is ready to dilute 10-15% of shares. The funds will be used expand the team and product geographically (Northern India).
India saw a rise in sales of passenger vehicles in the first 11 months of 2015. “At 7.64% growth over the previous year, India led the top eight markets as the country’s economy bottomed out and public investment improved market conditions for domestic auto firms during 2015.”