Openbay, a US-based online marketplace for automotive repairs and services, has raised $8m in a series A round led by Shell Ventures, the corporate venturing subsidiary of oil and gas supplier Shell.
The round also featured venture capital firm Stage 1 Ventures, which took part as an existing backer according to the company, and an unnamed strategic investor.
Openbay has created an online marketplace that enables consumers to connect with automotive service providers, compare prices and service details, and book work.
Huibert Vigeveno, executive vice-president for global commercial at Shell, said: “Digital and services partnerships provide exciting prospects and new revenues for Shell’s marketing businesses. Understanding customer needs and reducing customer friction is at the heart of our thinking.
“We scan the market for emerging technology trends and look for disruptive or transformational technologies, and investing in promising technologies such as Openbay is very much part of our future growth strategy.”
The company had previously received an undisclosed amount from GV, the corporate VC arm of internet technology conglomerate Alphabet than known as Google Ventures, and VC firm Andreessen Horowitz in 2013.