Deal Street

African Startup Funding Tracker

$1,129,592,550+

*Data updated daily at 18:00 EAT

Nigeria’s Mecho Autotech Raises USD 2.4 M Pre-Series A Round
Nigeria’s Mecho Autotech Raises USD 2.4 M Pre-Series A Round

Mecho Autotech, a startup offering automotive spare parts, vehicle repairs and maintenance services, has raised a USD 2.4 M pre-Series A round. Mecho Autotech secured a partner in Tokyo-based venture capital firm Global Brain Corporation to support its new path of managing the importation and distribution of aftersales spare parts. Ventures Platform and Uncovered Fund also participated in the round.

Mecho Autotech’s primary business connects vehicle owners (individuals and fleet owners) with workshops that handle vehicle repairs and maintenance. The startup offers repair and maintenance services to businesses and consumers through in-house and third-party service capacity which has passed rigorous assessments. Mecho Autotech seeks to develop an app in Q4 2023 allowing vendors to receive inventory finance and manage their inventory sales, and enable workshops to access working capital and acquire spare parts.