Bollywood Star Suniel Shetty has picked up a 20% stake for an undisclosed amount in Street Smart – An Auto-Tech venture making another investment in a series of investments during the lockdown.
Coming closely on the heels of Investment in an Ed-Tech venture, Suniel Shetty has added another Tech venture in his portfolio with this stake purchase. He is also an investor in Fittr, Beardo and most recently in Ed-Tech venture SEMSI.
Street Smart is a unique tech venture which digitally connects automobile after-sales services and brings it within the fingertips of the end-customers.
The Automobile after-sales services is a lucrative industry where assymetry in information about availability combined with lack of standardisation of prices works to the disadvantage of the end customers.
Street Smart platform will bring under its fold Authorised dealers, Garage Owners and End-consumers to be the complete ecosystem for after-sales services across the country. The vehicle owners, the Transportation companies as well as cab owners are set to form bulk of the end-customers and an app by the name of Street Smart is set to be launched on 15th August 2020.
The app will not only provide real time discovery of street smart stations but also provide service-based searches while ensuring transparency and uniformity in prices charged to customers. The app is expecting a 2 million app downloads within few months of launch.
Co-founder Pandit Rathod announcing the stake sale stated “We are happy to have a serial Entrepreneur like Suniel Shetty on board as Investor. With a wide range of Investments in Tech-ventures, Suniel Shetty brings in expertise in the domain. Moreover, the value proposition of Street Smart addresses as genuine painpoint for vehicle owners and we are confident of seeing regular demand for services and high downloads of the app.”
Investor Suniel Shetty stated that “I have picked up stake in several Tech ventures with varied business models. The stake in Street Smart not just diversifies my portfolio but also offers ease in finding Auto-solutions to the end customers. The market is already huge and set to witness growth in the upcoming years and we are poised to ride the wave of demand for the solutions the Auto-Tech venture provides”.