BuyAnyAutoPart Bolsters Funding with $750K Pre-Seed Investment
Deal News | Dec 12, 2024 | Aim Group
UAE-based BuyAnyAutoPart, a b-to-b marketplace for used auto parts, has successfully secured $750,000 in a pre-seed funding round. The investment saw participation from 6G Capital and the UAE-based Mazda dealership, Galadari Brothers. Established in January 2022, BuyAnyAutoPart has positioned itself to address significant pain points within the industry, such as price discovery and transparency. By aggregating market prices for all used parts required by garages, they provide a comprehensive price comparison, enabling more informed purchasing decisions. CEO Zarir Saifuddin expressed a clear ambition to become the leading supplier of used car parts in the UAE, leveraging the country's status as a global trade hub. Mohammed Galadari of Galadari Brothers highlighted the vast potential of the regional market and the innovative approach of BuyAnyAutoPart, reinforcing their decision to invest.
Sectors
- Automotive Aftermarket
- Technology
- Venture Capital
Geography
- United Arab Emirates – The article is focused on a company based in the UAE, BuyAnyAutoPart, and involves investments from UAE-based entities, placing the geographic focus on this region.
Industry
- Automotive Aftermarket – The automotive aftermarket involves parts, equipment, and accessories provided for vehicles after the sale and use. BuyAnyAutoPart, as a marketplace, fits within this industry by facilitating the sale of used auto parts.
- Technology – Technology underpins the platform provided by BuyAnyAutoPart, enabling efficient price aggregation and marketplace functionalities.
- Venture Capital – The involvement of 6G Capital, a venture capital firm, highlights the article's relevance to the venture capital industry.
Financials
- $750,000 – The amount raised by BuyAnyAutoPart in the pre-seed funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| BuyAnyAutoPart | Target | Company | A UAE-based b-to-b used auto parts marketplace established in 2022. |
| 6G Capital | Investor | Company | A venture capital firm that participated in the pre-seed funding round. |
| Galadari Brothers | Investor | Company | A UAE-based Mazda dealership, participated in the funding round with interest in the regional market potential. |
| Zarir Saifuddin | CEO | People | CEO of BuyAnyAutoPart, leading the company's strategic direction. |
| Mohammed Galadari | Co-chairman | People | Co-chairman of Galadari Brothers, involved in the decision to invest in BuyAnyAutoPart. |