car retailing platform Spinny has acquired a 100% stake in AI-powered connected
car startup Scouto. The deal will mark one of the first consolidations in the
AI-powered used car solutions segment where Spinny is gunning big to emerge as
the market leader.
by ex-racecar driver Akshay Gupta (CEO) & Shubham Sharma (CTO), Scouto has
built an end-to-end connected car technology suite that provides detailed
intelligence on car's health and performance, connects the vehicle owner to
automotive service providers (e.g., insurers, Fast Tag players etc.). and
improves the overall car ownership experience significantly. The company is
focused on the consumer car industry and caters to the various start-ups in the
automotive aftermarket and used car space in India. In FY22, Scouto clocked
approx Rs 5 crore in revenue.
Ahmedabad based startup was backed by DevX Venture Fund, iCreate &Bhuva
Family Office before being acquired by Accel,Tiger Global & Elevation
Capital backed Spinny.
Singh, Founder & CEO of Spinny said “as part of the acquisition, Scouto’s
founders will become an integral part of Spinny and help build and drive our
connected car offerings forward. We are very excited about the integration
& the synergies of Scouto with Spinny. By augmenting each other’s
capabilities, we can accelerate towards building the country’s largest and the
most trusted used car brand”
has built the entire technology-stack in-house and boasts of industry-beating
hardware & software capabilities. The company believes that by building the
entire technology ground-up with an integrated, Make-in-India approach, every
vehicle in India can be transformed into a smart and connected vehicle.
December 2021, Indian cricket legend Sachin Tendulkar partnered with Spinny as
a strategic investor and a lead brand ambassador. Sports icon, PV Sindhu, a
believer and a customer of Spinny would also be a part of a series of marketing
initiatives focused on realising the aspirations of a billion car dreams.