Czech Republic-based firm IAG, which operates a digital procurement platform for automotive spare parts, has raised €6 million in a round backed by Orbit Capital and Jet Ventures, as Vestbee was informed.
- Established in 2021 by Tomáš Kaštil, IAG connects automotive parts suppliers with independent repair shops and retailers through a single platform that enables users to search, compare, and order parts with real-time pricing and availability.
- The system is designed to streamline a traditionally fragmented aftermarket supply chain across passenger vehicles, trucks, and motorcycles.
“The European automotive spare parts market exceeds €100+ billion in annual turnover. Yet in many countries, purchasing spare parts remains slow, opaque, and inefficient. Our vision is to modernize this highly fragmented market through technology and operational innovation,” said Tomáš Kaštil, founder of IAG.
Details of the deal
- The fresh capital will be used to scale the platform across Central and Eastern Europe, strengthen its technology, and expand its network of suppliers and repair shops.
