GoMechanic, a car repair and service platform startup company, recently raised $4.9 million during a Series A funding round that was led primarily by Sequoia Capital.
Last August, GoMechanic, run by Targetone Innovations Pvt. Ltd, raised an undisclosed amount in seed funding from early-stage venture capital fund Orios Venture Partners and angel investor Dhianu Das. In 2016, it raised $250,000 from Venture Catalyst. The three-year old start-up is also in talks to raise funds from Snapdeal co-founder Kunal Bahl and Oyo’s Ritesh Agarwal, said one of the people cited above. The company will use the fresh capital to expand to new cities and bulk up hiring at leadership positions, he said, adding that it will also spend on brand-building.
Founded in 2016 by IIM-Ahmadabad alumni Kushal Karwa and Amit Bhasin, GoMechanic uses technology to offer automobile repair and maintenance services. It has built a network of car repair workshops across Delhi-NCR, Hyderabad, Mumbai, Pune and Bengaluru. It is also planning to launch operations in Indore, Kanpur and Jaipur, the person cited above said.
The Gurugram-based startup claims to offer services at a 40% discount, by reducing labour costs, bulk procurement of parts and minimizing real estate expenses. GoMechanic competes with Blume Ventures-backed Pitstop, run by ChatPay Commerce Pvt. Ltd, besides Mahindra First Choice, MY TVS and Crossroads.
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