Wisedrive, a car extended warranty platform, has raised $1 million in its seed round led by LC Nueva Investment Partners, through its early-stage venture capital fund, LC Nueva Alternative Investment Fund (AIF).
The round also saw participation from Spiral Ventures, an Asia-focused Japanese venture capital fund, and Bhavadeep Reddy. The capital will be used to expand operations in metros by partnering with used car dealers and authorised service centres.
Founded by Kalyandhar Vinukonda, Wisedrive’s extended warranty comes with free maintenance of used cars at manufacturer-authorised service centres and pan India road side assistance at no additional cost.
Currently operating in Bengaluru, the company intends to expand its operations to all of the metro areas in the next 12–18 months.
