Corporate Warranty India Pvt Ltd to fund VOC Automotive for expansion in South India

VOC Automotive, a promising startup in the two-wheeler service sector, has secured Rs. 1.5 crore in funding from Corporate Warranty India Pvt Ltd (CWI). This investment is aimed at supporting the company’s expansion plans, with the goal of providing affordable, high-quality services to two-wheeler owners across India.

Established in October 2019 by Venkatesh B M and Lokesh S, VOC Automotive was created to address a significant market needs such as the high costs and limited accessibility of authorised two-wheeler service centers. Drawing from their own modest backgrounds, the founders understood the challenges of maintaining two-wheelers on a budget, which inspired them to develop a solution that balances affordability, accessibility, and quality.

VOC Automotive offers a wide range of services, including general and major servicing, painting, denting, and specialised coatings, at prices 30 per cent lower than typical service centers. They’ve also introduced an innovative extended warranty program: six months for engine oil replacement and two years for other major services, applicable to vehicles manufactured from 2015 onwards.

The company has embraced digital innovation with the VOC Smart Rider app, allowing customers to book services for doorstep delivery or at nearby VOC service centers. They’ve also developed the VOC Smart Dealer app, which aggregates local service centers to improve accessibility.

Despite launching just before the COVID-19 pandemic, VOC Automotive overcame initial hurdles and opened its first outlet in August 2020. Since then, the company has seen rapid growth, expanding to 127 outlets across South India, with a strong presence in Bangalore, Hyderabad, and several states including Karnataka, Telangana, Andhra Pradesh, and Kerala.

The company’s financial performance reflects its successful business model, with revenue growth from Rs. 2 crore in FY-22 to Rs. 10 crore in FY-24. VOC Automotive aims to reach Rs. 100 crore in revenue by FY-25, supported by plans to establish 300 outlets nationwide, including expansion into North and West India.

The investment from CWI is expected to accelerate VOC Automotive’s growth and help them serve more customers while maintaining their high standards of quality and affordability. The investor from CWI expressed confidence in the founders’ vision and the potential of the business, noting the vast untapped potential in India’s unorganised two-wheeler market.

VOC Automotive is also pursuing strategic collaborations with insurance companies, EV firms, petroleum companies, and OEM companies. They plan to onboard 10,000 customers to their VOC Smart Rider app this financial year and are preparing to launch a new vertical for buying and selling pre-owned two-wheelers. This investment and expansion strategy position VOC Automotive to capitalise on the growing demand for affordable, quality two-wheeler services in India, including the emerging EV market.