BMW Invests in Online European Auto Repair Firm
BMW i Ventures announced a strategic investment in Caroobi, a leading European online repair shop for cars.
Caroobi works with more than 400 certified auto repair shops across Germany, Switzerland and Austria. With just a few clicks, car owners can book repairs at a fixed price.
BMW i Ventures is a corporate venture capital team founded by BMW Group in 2011. The team provides equity financing to companies involved in urban mobility.
Caroobi offers remote diagnosis for vehicle repair via the company’s online platform. Customers can later choose if they want to deliver their vehicle to the repair shop themselves or have the car picked up and delivered via a Caroobi partner shop.
“We are extremely proud to have BMW i Ventures join our mission to simplify and improve the automotive aftersales space,” said Nico Weiler, founder of Caroobi. “Together we are looking forward to bring the best service to our customers and our mechanics.”
BMW i Ventures is based in Mountain View, Calif. Investment areas of interest include autonomous driving, the digital car and automotive cloud, e-mobility, and artificial intelligence and data.