May 19, 2020

Bosch and Supercheap Auto to build workshop network under new JV agreement

Super Retail Group
Bosch Australia
Supercheap Auto
Addie Thomes
2 min
Bosch and Supercheap Auto to build workshop network under new JV agreement

Bosch Australia and Supercheap Auto, part of Super Retail Group, have struck a deal to open a series of garages from 2018.

Supercheap Auto is Australia’s largest speciality retailer in automotive parts, accessories and fitment solutions, and will team up with the German manufacturing giant to open ‘AutoCrew – Powered by Supercheap Auto’ branches.

The first pilot site will open in Western Sydney early next year, using parts exclusively supplied by Bosch – the company will also provide diagnostic and service training for the workshops.

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There has been something of a rise in the increasingly complex and digital nature of automotive systems and the ‘Do-It-For-Me (DIFM)’ customer market in Australia. Consumers are looking for an independent, technology-driven, full service auto workshop offering in locations that are convenient for commuters, shoppers and drivers in general.  

Commenting on the benefits the new independent ‘AutoCrew’ workshops will offer consumers, Chris Wilesmith, Supercheap Auto Managing Director, said: “In past years, we have seen strong growth across our fitment and solutions offering, and see a clear trend towards customers expecting more when it comes to servicing their cars.

“The diagnostic and digital components of cars today demand technology solutions often not commonly available in your average workshop – and at the same time, customers feel there should be a better solution than having to change their own wiper blades and that should come at a fair price. 

President of Bosch Australia, Gavin Smith, reiterated the potential in the Australian market for the new ‘AutoCrew' workshops. He added: “We are pleased to be working with Supercheap Auto in what is a logical extension of our ongoing relationship formed over many years’ collaboration. Bosch is proud to be Supercheap Auto’s technology, equipment and technical partner in this exciting new venture.”

According to data from IBISWorld, the ‘Do-It-For-Me (DIFM)’ market in Australia is fast growing, with a total present value of around A$24 billion, while the servicing and parts market remains highly fragmented.

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Jun 8, 2021

Timeline: India takes unicorn leap with six in five days

India
Unicorns
Startups
tech
Kate Birch
2 min
We chart an historic week in India’s startup tech industry, where from April 5-9 the country achieved six unicorns

We chart an historic week in India’s tech industry, where in just five days, between 5-9 April 2021, the country achieved six new unicorns, bringing India’s total to 10 in 2021 to date, an immense unicorn leap from just seven in 2020 and six in 2019.

April 5: Meesho

India’s first social commerce unicorn, Meesho raised US$300m from SoftBank, Facebook and Shunwei Capital, giving the Bangalore-based startup a US$2.1bn valuation, a threefold jump from its previous funding round in 2019. Founded in 2015 by two IIT-Delhi graduates, Meesho connects producers and resellers, helping small businesses sell through social media. It has 45m customers and has enabled 13m entrepreneurs to start their online businesses with no investment.

April 6: CRED

Founded just over two years ago, Bangalore-based credit card repayment app CRED raised US$215m from Falcon Edge Capital and Coatue, nearly trebling its valuation to US$2.2bn from its January US$80m round. Allowing customers to pay off their credit card debt while earning CRED coins which they cash in for rewards, CRED has grown rapidly during COVID-19, doubling its customer base to nearly 6 million in a year.

April 7: API Holdings / Groww

The first epharmacy startup to gain unicorn status, PharmEasy (API Holdings), which has digitised 60,000 brick and mortar pharmacies and 400 doctors across India, raised US$350m in a round led by Prosus Ventures. Founded by four former Flipkart employees as a way of making investing simple, investment platform Groww became India’s second-youngest fintech unicorn, raising US$83m in Series D funding led by Tiger Global, quadrupling its previous round in September.

April 8: ShareChat

New Delhi-grown social media startup ShareChat, founded in 2016 by Mohalla Tech raised US$502m from Lightspeed Ventures, Tiger Global, Twitter and Snap taking its raised total over six rounds to US$766m and pushing its valuation to US$2.1bn. The funding will be used to grow its user base and short video platform Moj, which launched in 2020 following TikTok’s ban in India. The regional language startup claims 280m users.

April 9: Gupshup

AI-led conversational message startup joined the unicorn club after raising US$100m from Tiger Global giving it a ten-fold valuation of US$1.4bn. The smart messaging platform, which has seen accelerated growth during the pandemic, was founded in Bangalore in 2005 by serial entrepreneur Beerud Sheth, whose online freelancing platform Elance is now listed. Gupshup’s API enables 100,000+ businesses to build messaging and conversation experiences across 30+ communication channels. 

 

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