Auto Startup Secures $1.5M in Seed Funding
Jan. 29, 2021—Social Auto Transport, a gig economy platform designed to offer reliable short-haul service for repair shops, fleets, and retail agencies, closed on a $1.5 million in seed round on Wednesday, the Charlotte Business Journal reported.
The North Carolina-based startup facilitates the moving of cars to help businesses provide concierge pickup and delivery services to customers, move inventory or make operational moves.
Since the company was founded in 2018, it has raised more than $2.7 million, co-founder Nick Mottas told the outlet. The recent $1.5 million raised will be used to help the company continue to scale. The company has officially launched operations in Philadelphia with plans to expand to Atlanta, Washington, D.C. and other cities over the next six months.
"We're talking to some national partners and dealership groups, and we're looking at Nashville, Dallas, Houston and Phoenix as potential locations," he said. "Our goal is 30 markets over the next couple of years."