Amicco, a B2B marketplace focused on automotive spare parts, raised $1 million in seed capital, led by Eximius Ventures, in an investment round. The capital will be used by the company to scale its network and develop its procurement platform aimed at independent garages. The funding round, which came to a close on April 9, also included FJ Labs and other investors. Amicco will use the funds to strengthen its technology infrastructure as well as extend its operations from its existing site in Gurgaon.

Amicco was founded in 2024 by Vivek Aalok with a view to addressing the disjointed supply chain issues experienced by independent garages in India. The company aims to provide uniform pricing and better visibility of spare parts, thus reducing vehicle downtime and optimizing service delivery.

"We understand that the problems in this industry are very complex, and we think that technology can be a revolutionary solution to address the on-demand requirements of the business," said Aalok, who was earlier the Head of Business at Spinny and has worked at J.P. Morgan on Wall Street.

Preeti N Sampat, Partner at Eximius Ventures, emphasized Aalok's operating experience as the deciding factor behind their investment. "Vivek's successful operating background and his deep understanding of the industry dynamics put him in a better position," Sampat noted.

India's automotive aftermarket industry has traditionally struggled with inefficient distribution channels. Independent garages, which service much of the country's growing vehicle population, tend to experience delays and price variations when ordering parts.

Industry sources point out that India's automotive aftermarket is likely to witness high growth in the future, spurred by increasing vehicle ownership and maintenance of old fleets. The industry is still unorganized, with thousands of small garages spread across the country.

Amicco is one of the first investments of Eximius Fund 2. Eximius Ventures is a pre-seed fund that focuses on areas like FinTech, SaaS, HealthTech, and Online Media, and has already backed startups like Jar, STAN, and Eka.care.