- Saudi Arabia-based B2B automotive platform Autobia has closed a $2.5 million Seed funding round, led by Sadu Capital and supported by Wa’ed Ventures by Aramco, Raz Holding, Techstars, and a group of angel investors.
- Founded in 2021 by Emad Daghreri and Ahmed Alawfi, Autobia provides automotive aftersales and spare parts.
- The recent funding will be used to fuel Autobia's expansion in Saudi Arabia, attract new segments in the automotive aftersales industry and its adjacent markets, and invest in talent acquisition and technology development.
Autobia, a cutting-edge B2B platform for automotive aftersales and spare parts, proudly announces the successful completion of a $2.5 million seed funding round. The investment round was led by Sadu Capital and supported by Wa’ed Ventures by Aramco, Raz Holding, Techstars, and a group of angel investors.
Launched in 2021 by Emad Daghreri, a serial entrepreneur and partner at Tam, with one successful IPO under his built, and Ahmed Alawfi, a strategic leader and seasoned entrepreneur with a robust background in technology and investment, Autobia seeks to reshape the automotive aftersales market in Saudi Arabia by offering a seamless platform for retailers and maintenance shops to order wholesale spare parts through its app. The platform creates a streamlined supply chain, bridging the gap between supply and demand while giving businesses access to the digital and logistical infrastructure necessary for success in a rapidly evolving market.
Emad Daghreri, highlights their goal of empowering businesses with efficient selling capabilities through data-driven innovation, optimized pricing strategies, trend identification, and personalized recommendations, stating, 'We are dedicated to ushering the automotive aftersales industry into the new era of digitization in Saudi Arabia. Ahmed Alawfi, also emphasized Autobia's core mission of transforming the industry through streamlined supply chain solutions, enhancing operational efficiency, unlocking greater sales potential, and ultimately benefiting end customers with improved availability and competitive pricing.
Qusai AlSaif, CEO of Sadu Capital commented “We found that the automotive aftersales industry in Saudi alone is worth SAR 21 billion, and it’s still operated manually. Autobia introduced a unique technology solution providing instant pricing, a large selection of parts and connecting them to a wide variety of wholesalers and suppliers. Sadu's investment is driven by massive opportunity coupled with an impressive team tackling it at a time when Saudi Arabia is playing a larger role in the automotive industry and becoming a great logistical hub”
To date, Autobia has traded over 1,000,000 spare parts via its platform, with fulfilment centres in Riyadh and Jeddah connecting to an extensive network of wholesalers for unparalleled market availability. Currently supporting 23 brands, Autobia plans to expand its offerings as the company grows.
The recent funding will be utilized to further Autobia's expansion within Saudi Arabia, attract new segments in the automotive aftersales industry and its adjacent markets, and invest in talent acquisition and technology development to strengthen its data-driven approach and infrastructure capabilities.