The 3 STREAMS investment fund invested 60 million rubles in the Shinsale tire, wheel and other automotive component selection service. This was reported to RB.RU by a representative of the fund.
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The deal closed on August 21, 2024. The valuation of the company and the stake received in it are not disclosed.
Shinsale buys used tires and wheels from both car dealers and individuals. The company checks the components, repairs the tires if necessary, makes a detailed description of the product and organizes its delivery with a tire fitting service.
“The investment in Shinsale reflects our strategy of supporting fast-growing Russian brands. <…>. Shinsale has implemented unique solutions based on artificial intelligence and data analysis, which allows us to automate the assessment of the condition of tires and offer customers safe and affordable products,” a representative of the fund told RB.RU, commenting on the interest in the company.
Sergey Oganesyan, co-founder and CEO of Shinsale, told RB.RU that investments will be aimed at strengthening the existing business model, introducing a customer-centric management system and launching new directions.
“We estimate the market for used tires and wheels in Russia at 25 billion rubles. This market is very fragmented and one of the key problems we see is the difficulty of working with individual items. With this work we understand everything that is important to the client: complete and reliable information, exhaustive quality control, optimized logistics and fair prices. We strive to become world leaders in this field,” Oganesyan explained.
According to the co-founder of Shinsale, most of the company’s purchases are made in Moscow, and sales are directed to the regions. The company has a resale project with Yandex Market, pilot projects for the sale of tires with Ozon, Wildberries and Avito.
Shinsale plans to expand to the CIS countries and in the future to the BRICS states.
- According to the Kontur.Focus system, the Shinsale legal entity, Shinsale LLC, was created in August 2021.
- As of September 27, 21.88% of Shinsale LLC is owned by four individuals, including Shinsale co-founder and CEO Sergey Oganesyan. Its shares are pledged to the Moscow Venture Investment Development Fund (Moscow Seed Fund). Another 7.5% belongs to Dmitry Garanin, 5% to Andrey Novitsky.
- The company’s revenue at the end of 2023 amounted to 165.5 million rubles, 12% less than in 2022. Net profit, on the contrary, increased from 20 million rubles to 53.7 million rubles in 2023.
- 3 STREAMS is a private investment fund focused on the development of fast-growing Russian brands in the consumer goods market. From 2018 to 2023, the team developed a venture fund and startup accelerator, Startup Lab. More than 30 investments were made in Russia, the United States and Europe.
Author:
Anastasia Marina
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
