Used car retailer 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 aiming to emerge as the market leader.
Founded by Akshay Gupta and Shubham Sharma , Scouto provides detailed intelligence on a car’s health and performance, connects the vehicle owner to automotive service providers, insurers, Fast Tag players, and improves the overall car ownership experience.
In FY22, Scouto claims to have clocked about Rs 5 crore in revenue.
The Ahmedabad-based startup was backed by DevX Venture Fund, iCreate & Bhuva Family Office before being acquired by the Tiger Global-backed unicorn.
Currently, Spinny has 36 car hubs & operational in 22 cities – Delhi, Gurugram, Noida, Bangalore, Mumbai, Pune, Hyderabad, Chennai, Kolkata, Ahmedabad, Lucknow, Jaipur, Chandigarh, Indore, and Coimbatore.