Aequs Group backs Bengaluru based Automobile Service Logistics and SaaS Startup LetsService.in
Bengaluru: Aequs Group, a pioneer in establishing an Aerospace manufacturing ecosystem in India has taken first steps to expand into the digital space through an investment of an undisclosed amount in Pre-Series A funding in Bengaluru based Automobile Service Logistics and SaaS startup LetsService.in.
LetsService.in, a fast growing Bengaluru-based Automobile Service Logistics and SaaS startup, with operations in 5 Indian cities, uses its proprietary technology to enable any automobile service center plug the Pickup and Drop feature, through its suite of products, thus enhancing the convenience of automobile servicing for both the service centre and customers. Let’s Service brings the focus back on the customer, envisioning a seamless vehicle ownership experience, through digitally powered solutions (that use Machine Learning algorithms) to reduce wait times and increase efficiency across service networks of the automobile manufacturer.
The recently released Bain & Company and Facebook report titled “Changing Gears 2020 - How digital is transforming the face of Indian automotive industry", states that 40% of automobile sales in India will be digitally influenced by 2020 and it also goes on to state that by 2020, up to 40% of consumers are expected to book repair and maintenance services online which will see a growth of 26% over the next 3 years from the current 14%. J.D. Power 2017 India Two-Wheeler Customer Service Index (2WCSI) Study says that “Customer satisfaction also can be improved by offering facilities that aid in improving customer convenience when scheduling and executing a service visit. The 14% of customers who were offered vehicle pick/drop at or from their home/office (14%) are more highly satisfied than those who were not.” LetsService.in is building the necessary infrastructure on ground, across major Indian cities, to facilitate this big transition for automobile manufacturers and their dealership networks. Let’s Service currently operates in Bengaluru, Mumbai, Pune, Hyderabad and Chennai.
Let's Service plays in the B2B space where it partners with the Authorised Service Centres with support from the OEMs (Manufacturers) to enable them to offer the pickup and drop services to their customers. Let's Service has also built multiple tech solutions which is helping the dealerships and service centres in improving their customer reach-out and service processes.
“This investment comes at a crucial point; we are catering to increased demand for our exclusively built digital solutions, across dealerships in the country, from our customers (OEMs). Our focussed work with select dealers in Bengaluru, Mumbai and Pune, has proven that the Let’s Service suite of tech-driven products improves customer outreach and follow-through processes significantly. The investment will be used to strengthen our team, expand into multiple cities and enhance our technology stack. In the coming 6-8 months, we would focus on driving improved optimization and efficiency of service centers, with the support of OEMs, by extensively plugging our solutions at more dealerships across the country.” Says Sachin Vasanth Shenoy, Co-founder and CEO of Let’s Service.
Speaking on the investment, “Let’s Service is driven towards transforming the automobile sales and service landscape in India. They have positively impacted customer satisfaction scores, through digitising the repair and maintenance service process across 350+ service centres, within limited resources and time. We are partnering with them for achieving their long term vision.” says Aravind Melligeri, Chairman and CEO, Aequs Group.
Let’s Service is backed by industry leaders like Dr. Ajay Prabhu, COO, QuEST Global, and Deepak Vinchhi, Co-founder and COO of Julia Computing Inc.
About Aequs Group: Aequs Group with over 2500 employees has investments in manufacturing and Infrastructure businesses in Aerospace, Oil & Gas, Automotive, and Consumer Products. Its operations are in Aequs SEZ, Belagavi (Karnataka, India), Houston (TX, USA), Paris (TX, USA), Aubigny (France), Cholet (France), Besancon (France) and Paris (France).
For more information visit, www.aequs.com
To learn more visit www.aequs.com
About Let’s Service Automotive Technologies Pvt Ltd - Let’s Service Automotive Technologies Pvt. Ltd, a Tech-driven Automobile Service Logistics and SaaS startup based in Bengaluru, was founded in October 2015 by Sachin Vasanth Shenoy, Girish Gangadhar and Sachin Shrikanth Radder. Let’s Service has a vision to become the most trusted Customer Service Digitisation Partner for all two and four wheeler OEMs globally.
To learn more visit www.letsservice.in
About Sachin Vasanth Shenoy - Sachin Vasanth Shenoy is the Co-founder and CEO of Let's Service Automotive Technologies Pvt Ltd. He is a 2nd time entrepreneur, his first venture being in the online to offline space. Sachin is a Post Graduate from St Josephs Institute of Management, Bengaluru and a graduate from Mangalore University. He has had successful stints with companies like IBM and MetricStream before he ventured into the world of Startups. He has been a professional cricketer having represented Karnataka in age group matches and also had the privilege of being coached by Late Frank Tyson, the former England Fast bowler, at the National Cricket Academy, Bengaluru.
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