In a promising development for Nigeria’s Autotech landscape, Fixit45, a dynamic startup founded by Chioma Ahueze-Okochukwu, Goodluck Ikporo, and Pankaj Bohhra, has secured $1.9 million in a pre-seed funding round. The driving force behind this investment was Launch Africa Ventures, Africa’s leading VC firm, along with notable investors, Soumobroto Ganguly and David DeLucia.
Fixit45 has carved a unique niche in the market by connecting car owners with a wide network of aftermarket players, including skilled service providers, technical experts, spare parts suppliers, and end-consumers. What makes Fixit45 stand out is its commitment to revolutionizing the automotive aftermarket sector in Africa.
Interestingly, this funding revelation comes after another Nigerian Autotech company, Mecho Autotech, secured a $2.4 million deal in a pre-Series A round. This trend highlights a growing investor interest in this less-explored segment of Nigeria’s startup ecosystem.
With this infusion of capital, Fixit45 is set to expand its horizons to East Africa, specifically Kenya and Uganda. The company’s strategic focus is not only on expanding its footprint but also on enhancing its existing operations in Nigeria. This will be achieved by investing in technology and ambitious expansion plans, with a particular emphasis on optimizing spare parts distribution through its innovative online-to-offline (O2O) platform.
Pankaj Bohhra, Fixit45’s COO and Co-founder, expressed his team’s excitement about the robust support from investors who share their vision for transforming the African automotive aftermarket. The strategy includes streamlining the supply chain and forming partnerships with reputable automotive parts manufacturers, all aimed at better serving individual consumers and businesses in the automotive sector.
Bohhra emphasized that Fixit45’s move into East Africa aligns perfectly with the region’s thriving automotive industry, presenting a compelling opportunity to meet the growing demand for auto services and spare parts in Kenya and Uganda.
Beyond the financial injection, the involvement of Launch Africa, Soumobroto Ganguly, Dave DeLucia, and a diverse group of angel investors brings invaluable expertise and networks that promise to expedite Fixit45’s journey towards growth and success. This exciting chapter demonstrates the promising future of Autotech in Africa and the potential for transformative change in the automotive aftermarket sector.