Private Equity

Liquidity Events

Inflection Point Ventures exits from auto spare parts startup Koovers

Business Line  

Angel investment firm Inflection Point Ventures (IPV) has completely exited from Bengaluru-headquartered automobile spare parts startup Koovers, with a 47% internal rate of return (IRR). The exit comes from Koovers' acquisition by German automotive giant Schaeffler's India arm for over INR 142 crore. Through this exit, IPV has achieved a 2.1-fold month-on-month return in 22 months of investing in the company. Founded in 2016, Koovers is a B2B (business-to-business) e-commerce platform that supplies auto parts to independent workshops and the aftermarket sector.