UParts, a US-based cloud platform for automotive parts sourcing and procurement, has raised $2m in its series A round from a consortium including Fraser McCombs Capital, the $40m corporate venturing fund of US-based car dealer BJ “Red” McCombs.

Alongside Fraser McCombs Capital, which gathered external limited partners from individuals to raise the fund, in the round were venture capital firm GRP Partners and individual angels.

Chase Fraser, managing partner at Fraser McCombs Capital, said: “Alex Adegan [founder and executive president…

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