Kuala Lumpur (April 5): Thailand-based online tyre marketplace for vehicle maintenance firm WYZauto has secured US$2.25 million (RM10.66 million) in funding.

The funding came from, among others, Vynn Capital's new Mobility and Supply Chain fund and Idea River Run Sdn Bhd chairman Tan Sri Vincent Lee, who was an early investor in another car platform Carsome.

WYZauto’s platform offers car maintenance businesses access to the country’s largest tyre stock and will soon be expanding its coverage to include other vehicle parts, aiming to streamline the entire vehicle maintenance supply chain.

The company works with numerous wholesalers and brands, helping them increase their e-commerce presence and reach new customers through the WYZauto platform.

Vynn Capital is a Southeast Asian venture capital firm specialising in the mobility and supply chain sectors.

In a statement on Friday, WYZauto said this marks the first investment from Wynn Capital's Mobility and Supply Chain fund.

It said existing shareholders, including Philippines-based Kaya Founders, also participated in the round.

WYZauto expanded into Malaysia last year, and as part of this new partnership, Vynn Capital, with its deep understanding of the Malaysian market and leadership in mobility investments, will actively support WYZAuto's expansion there.

Vynn Capital’s aim is to facilitate mutually beneficial partnerships that accelerate WYZauto’s growth within the Malaysian market by leveraging their existing connections, particularly in the mobility and supply chain sectors.

WYZauto founder Louis Giraud said the mobility synergy approach is very relevant to optimising the automotive maintenance industry.

Vynn Capital founding and managing partner Victor Chua said the vehicle maintenance sector in Southeast Asia has room for significant growth.

“WYZauto is positioned exactly where the market needs it: their streamlining of the tyre supply chain creates a win-win situation for both repair shops, maintenance networks, wholesalers as well as brand manufacturers, driving efficiency and cost savings.

“We have an optimistic outlook for the company’s growth trajectory and look forward to supporting WYZauto’s continued expansion across countries like Malaysia, the Philippines, Indonesia and Thailand,” he said.

In addition to supporting WYZauto’s growth, Vynn Capital is actively looking into other opportunities as well as startups from key markets like Singapore, Thailand, and Indonesia.

Chua said that with Southeast Asia's automotive products market alone expected to reach US$79 billion in 2028, significantly exceeding 2023's US$61 billion, the firm sees this as an opportunity to support mobility solutions that can address the region's evolving and unique mobility needs.