UAE start-up MySyara announces acquisition, raises funds

UAE-based automotive start-up MySyara has acquired an auto parts distributor in the UAE for $2.6 million as part of its expansion plans. With this acquisition, a new arm has been announced for the business, named ‘MySyara Supply’.

MySyara has also secured an additional $400,000 from its existing investor pool to further develop its service offerings as it continues expanding its operations in the region and internationally.

Launched in 2019, the start-up offers the region’s first car maintenance app, providing a single platform for several car care solutions. MySyara has received $1.1 million in funding and says it has recorded 600 per cent year-on-year revenue growth.

“The auto care industry is deeply fragmented. A garage, on average, deals with 20-26 suppliers to source automotive parts. This traditional supply chain process can increase turnaround time for garages which results in delayed deliveries to customers. Through MySyara Supply, we have access to a wide range of auto parts sourced from local and international manufacturers. Therefore, we can identify and receive auto parts much faster, which enables our vendors to provide a more seamless experience to our end user,” says Chirenj Chandran, Chief Executive Officer, MySyara.

With a presence in the UAE and India, the start-up offers customers in Abu Dhabi, Sharjah, Ajman and Dubai services including doorstep steam wash, full car service and car repair through the MySyara mobile application.