KSA-based Garage raises $260K in first funding round
Garage, a soon to be launched startup in the field of express vehicle service and headquartered in Khobar, Saudi Arabia, has announced the closure of its first investment round, in which it raised approximately 1M Saudi Riyals ($260K) from angel investors. The capital will contribute to the completion of building the company's platform and operating the ground operations.
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Garage aspires to digitize the vehicle service sector in line with the 2030 Saudi Vision to contribute to digital transformation and help to create job opportunities for graduates of the professional and technical sectors. It also aims to facilitate and develop express vehicle service by integrating it into an advanced and easy-to-use application that enables vehicle owners to ensure the quality of service provided and schedule it in a timely manner to them through certified garage partners.
Garage CEO and Founder, Osama AlSalloum said, “Despite the presence of more than 12M vehicles in Saudi Arabia alone and at a continuous annual growth rate, the express vehicle service still has not lived up to the aspirations of consumers. As an owner of a vehicle, for example, I am still dealing in the same way that I did 25 years ago to maintain my vehicle, and this matter is totally unacceptable and it is time to change it. Together with our team, our partners, and investors, I aspire to succeed in digitizing this important sector and to provide a reliable, professional service with experienced technicians for all vehicle owners in the Kingdom.”
Yasser Al-Ghamdi, an angel investor in Garage and other tech startups said, “The automotive service sector in Saudi Arabia has not been affected by development and digitization in line with the great development in the region, and we aspire in Garage to provide easy and integrated services that suit the aspirations of the new generation of young people, that include providing quality and easy services in the field of vehicle services. We, as investors, are counting on filling an important and viable gap in this area."
Garage plans to launch its services in Dammam, Dhahran, and Khobar and will expand the scope of its operations to include the rest of the Kingdom's regions during 2021.
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