Auto industry's Engie closes a $3.5m investment round with leading VCs

Engie seeks to address the helpless, uncertain and frustrating feelings drivers have when they need to fix their car at the mechanic.

By
August 2, 2016 21:08
1 minute read.
Engie

ENGIE seeks to disrupt the car repair marketplace by offering customers diagnostics capability, quotes on repair costs, and help finding the best mechanic nearby.. (photo credit: LINKEDIN)

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

The investment included both US and Israeli VCs as Engie sees its main market in the US.

The investment was led by OurCrowd and joined by 8partners (formerly Formation8), Ton Ventures, Motus VC, Elevator Fund, Uri Levine (cofounder of Waze) and Israel’s Chief Scientist’s Office The combination of leading Israeli and US VCs goes hand in hand with Engie’s growth strategy.

Be the first to know - Join our Facebook page.


Engie seeks to address the helpless, uncertain and frustrating feelings drivers have when they need to fix their car at the mechanic. Such feelings are widespread as recent surveys show that over 700 million drivers feel helpless at the repair shop every year, worldwide. This is because drivers know that the car needs to be fixed, but are uncertain how long it will take and how much it will cost.

Engie plans to change all this and make the auto repair industry totally transparent and fair.

It provides a solution that disrupts the auto repair industry, as it shifts the power back to the customer, empowering them with knowledge and confidence regarding the vehicle’s health and maintenance.

The streamlined solution for car maintenance allows customers to understand the car’s state, know how much the repair will cost and choose the best mechanic nearby. Engie’s technology enables this process through its advanced diagnostics capability.

Engie was launched in Israel last year with almost 100,000 users that joined the system, and 200 mechanics. The US version of the product will be launched in the upcoming months, but Engie currently offers users the option to sign up through the website and join the beta presale.



Yarden Gross, co-founder and CEO said: “We saw an amazing market response in Israel because Engie solves a big consumer pain and offers a much better experience when it comes to car maintenance.

“This investment will help expand into other markets where drivers lose millions of dollars due to unnecessary repairs. Engie’s goal is to create a better experience to drivers around the world, offer them control over the car’s health and of course save money,” he added.

Related Content

A demonstration of the NUF purification system in Cameroon to government officials, local journalist
August 14, 2018
Israeli invention to help combat cholera epidemic in Cameroon

By ELIANA SCHREIBER