
New Investments
Nigerian Automotive Startup Mecho Autotech Raises $2.4M Pre-Series A for Expansion

Nigerian automotive startup Mecho Autotech has raised $2.4 million in pre-Series A funding to expand into wholesale spare parts distribution.
The round was led by Global Brain Corporation, with participation from Ventures Platform and Uncovered Fund.
Founded in 2021, the company provides a platform that connects vehicle owners with workshops that handle vehicle repairs and maintenance.
Founded in 2021, the company provides a platform that connects vehicle owners with workshops that handle vehicle repairs and maintenance.
Mecho Autotech also offers a marketplace for spare parts, where workshops and vehicle owners can buy and sell spare parts.
The company’s pre-Series A funding will be used to expand its wholesale spare parts distribution business.
The company’s pre-Series A funding will be used to expand its wholesale spare parts distribution business.
Mecho Autotech plans to build a network of warehouses across Nigeria to store spare parts. The company also plans to develop a logistics platform to deliver spare parts to customers quickly and efficiently.
The Nigerian automotive market is expected to grow at a CAGR of 10% over the next five years.
The Nigerian automotive market is expected to grow at a CAGR of 10% over the next five years.
This growth is being driven by factors such as increasing disposable income, growing urbanization, and the rise of the middle class.
Related Articles
Register Now
Empower Africa Times Newsletter
Share :
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
You may also like...

Egyptian Edtech Startup iSchool Raises $4.5 Million for Global Expansion
Egypt-based edtech startup iSchool has secured $4.5 million in a funding round to fuel its global expansion, with plans to establish a new team in Dublin, Ireland.
December 21, 2023

Egyptian Fintech Startup Bokra Secures $4.6 Million to Disrupt Wealth Management in MENA
Bokra, an Egyptian fintech company, has successfully closed a pre-seed funding round of $4.6 million.
April 23, 2024

African Agri-Food Startups Invited to Apply for THRIVE Global Accelerator Program
African agri-food startups can now apply for the THRIVE Global Accelerator Program, a 12-week program designed to support seed through Series A companies and prepare them for growth and scalability.
October 29, 2023