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.

 

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.

 

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.

 

This growth is being driven by factors such as increasing disposable income, growing urbanization, and the rise of the middle class.