Start-up Jigcar has accomplished a £750,000 pre-seed funding round.
Founded by three former members of Cazoo, Jigcar goals to rework the logistics operations of multi-site automobile dealer groups by optimising stock turnover, reducing costs, and improving customer experience
Despite its January entry into the market, the corporate said it has already gained traction among the many top 50 UK dealers, including partnerships with well-known franchise groups similar to Glyn Hopkin, Steven Eagell, and Perrys Motor Group.
The startup’s platform uses AI to administer and optimise logistics across all sites, internal drivers, trucks, and third-party logistics providers.
This technology, accessible via each web and mobile apps, provides insights into costs and performance, essential for developing a successful logistics strategy at group level.
The combined experience of founders Elliott Perks, Rupert Wood and Jackson Jacob at Cazoo and SaaS corporations like Personio and Fonoa led to the team identifying a spot within the automotive industry for specialised logistics solutions.
To strengthen its leadership team, Jigcar has appointed Jon Pollock, former executive at Nissan, Toyota, and McLaren as industrial director and Simon Bottomley, ex-COO at Hendy and current COO at Vindis, as a non-executive director.
Elliott Perks, CEO of Jigcar, said: “A bunch-level logistics strategy is essential to supporting a successful omnichannel sales model, and Jigcar is here to support that – whether a gaggle’s logistics is fully outsourced, fully internal, or a hybrid of the 2.”
Jigcar said it’s already delivering tangible results for its clients similar to its first customer Glyn Hopkin, which has reported a 1.2-day reduction in automobile movement time, leading to a further £200,000 in cash in on increased stock sales, together with forecast six-figure savings in logistics costs this 12 months.
Dean Quy, sales operations director at Glyn Hopkin, reported: “Because of Jigcar, we now have gained invaluable visibility over our operations across all 34 sites. It has truly revolutionised our logistics management, resulting in smoother operations and greater collaboration inside our motor group.”
The funding round was led by Concept Ventures and included participation from industry executives at Hendy Group, Motorpoint, Carwow, Impel, and Cox Automotive.
Oliver Kicks, partner at Concept Ventures, explained: “At Concept, we search for founders with deep domain expertise, a powerful eye for product, and ambitions to construct globally significant corporations. Elliott, Rupert, and Jackson possess the suitable expertise and skills to tackle the big and globally relevant problem of logistics and planning across automobile dealer groups.”
This Article First Appeared At www.am-online.com
