Have you ever been in a position where you wished that you had someone to trust with your car or bike repairs? Are you tensed about overpricing and poor servicing at vehicle service centers? Time to say goodbye to your woes. Say hello to Demyto.com.
One stop shop for Vehicles
Demyto.com is your trusted advisor for complete auto care. Be it a car, bike or heavy vehicle, it is a one stop shop solution for your vehicle after sales service and accessories. Demyto.com is a website that combines innovation and a user friendly approach to locate nearest vehicle dealers anywhere in India. The mission is to provide complete and state of the art after sales service for vehicle through registered dealers. What Demyto.com offers is a dealer to customer portal.
The Beginning and the Journey
The journey of Demyto.com started with an exciting story. While working in the automotive and after sales domains, the founders realized the need for something to be done after meeting customers who had burnt their fingers with huge bills of repair wage with inconsistent explanation from garages. Around 6 months of market research a strategy was formulated to enter this market.
We believe that we have adopted the right balance between technology and handling dealers to bring better, cheaper and faster services to Car and Bike owners.
Demyto.com is a technology startup that was inspired by customers demanding digital transformation in the automotive and after-sales sector. The company was started in March 2015 and the initial months were spent in getting garages on board and sharpening strategy, before taking services live to the users. This helped them enormously, in gaining immediate momentum with their revenue model.
Their guarantee is that car and bike owners will save a minimum of 20% on servicing and repair cost, with the promise of continuous, better and cheaper services, in the future.
The Addressable Market and the Underlying Opportunity
Demyto.com addresses a 29 million car market which is growing 15% year on year. There is clear business case for after sales service players to provide servicing with cost effective options, with a transparent way of working and using technology as an enabler to keep customer aware about the expenditure on servicing and repair.
A similar phenomenon was seen in the European market in the last 10 to 15 years through which a number of players had emerged such as Euromaster and Repairpal. Recently Tuhu from China received 100 million euro funding in this space.
Demyto.com foresees opportunities in mainly two sectors. One area is offering direct services to customer using our listed garages and the second area is offering services to OEM and trying to become customer centered. The recent trends have seen in this sector are several acquisitions globally. MeriCAR recently got acquired by Crossroads to scale up their garage network. Help on wheels has been acquired by CarDekho.
Our understanding of customer sentiments, domain knowledge and technology approach will help us bring unique differentiation for OEM specific solutions.
The Challenges and the Triumph
The two most critical challenges faced along their journey were:
- Convincing dealers to work as per Demyto.com process and procedures.
- Initially creating trust with customers to ensure repetitive customers and sustainable revenue.
After bringing the software solutions to the dealers and explaining to them the benefits, some level of confidence sprouted. To convince customers, the company requested users to try their low risk solutions for problems in their cars. These steps helped instill confidence in customers. Customers started returning and also brought additional customers with word of mouth publicity. Today vehicle dealers help improve processes and motivates the company to bring new features in the system.
Demyto.com is already in advanced discussions for funding. The founders decided go for a round of funding after successfully maintaining monthly GSV and revenue.
The IoT Edge
Demyto.com is two steps ahead of the competition because of the unique approach with listed garages and bringing transparency to customers. Stratups like Cartisan, Steero, Autoyaar and many more have been coming into this sector in the last 2 years . In a few years, cars will be smarter and will be sharing data related to after sales services. Demyto.com is all set to work with OEM to make use of this data and share it with garages for providing better services to their customersWe have worked on integrating our after sales strategy with IoT platforms, to give the customers what they need.
They have also software applications in automotive after sales service area required by OEM for supply chain, EV vehicles, logistics improvement and now aim to bring doorstep delivery. Most of these solutions are built on Internet of Things platform using open source tools available in the market.
The current team size is around 20 people, consisting of vehicle inspections experts, a dedicated sales team, marketing experts, operations and software developers specially from supply chain and logistics background.