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MySyara Secures $650K in Pre-Series A Funding

The UAE’s leading online automotive service provider, MySyara today announced plans to expand its operations as well as launch a new service package to provide car owners with a more convenient and affordable way to manage their vehicle’s servicing and maintenance. The announcement follows the conclusion of a successful USD 650,000 pre-series A fund-raising round, with the company confirming 600 percent year-on-year revenue growth.

Rolling out in Q1 2021, Dubai-based MySyara’s full, existing range of on-demand services will be made available to customers in Abu Dhabi and Sharjah, significantly expanding its potential customer base as well as offering users of the app the flexibility to service their vehicles across the Emirates. Meanwhile, MySyara’s new online auto service package is set to launch in Q2 2021. It is designed to make life easier for customers, with a range of benefits that will include a pick-up and drop-off service, doorstep cleaning, routine servicing and roadside assistance.

This expansion and new product deployment has been made possible by a cash injection of over USD 650,000 from an initial round of funding, facilitated by JRC Corporate Consulting. Acting in an advisory capacity, JRC brought in ten investors for the pre-series A round, attracted by the start-up’s rapid growth and fertile market conditions.

“Since the outset of the Covid-19 pandemic, with its resulting lockdown and social distancing implications, car owners have sought safer ways to maintain their vehicles without leaving their own home,” said Chirenj Chandran, Co-founder and CEO of MySyara. “With owners increasingly retaining their existing cars instead of replacing them, keeping them in top condition is more important than ever. These changing market conditions have helped us register year-on-year revenue growth of 600 percent, and the new service packages are designed to address these new market trends.”

Commenting on the start-up’s expansion plans, Anser Latheef, Co-founder and CSO of MySyara, said: “The UAE aftersales market is set to grow and we are determined to play a key role in this as we plan to expand beyond Dubai and into the rest of UAE and, subsequently, Saudi Arabia. We want to give car owners across the region an aftersales experience that is as seamless as updating your smartphone. Customers are looking for maximum convenience and the traditional models of service and maintenance struggle to meet this need – we are here to disrupt the market and transform the experience of car ownership.”

Currently, the MySyara app offers services ranging from doorstep waterless car washing and detailing to pick and drop car servicing, diagnostics and car repairs. The company has grown rapidly since its launch in 2019, when it introduced the Middle East’s first car maintenance app, providing complete car care solutions at the touch of a button. Its swift expansion was aided by the $2.8M acquisition in 2019 of SKKYN Technologies, an on-demand car wash app that provided eco-friendly and convenient car wash services to a customer’s preferred location.

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