GoMechanic, a car care solution provider has raised ₹105 crores in Series-B funding led by Chiratae Ventures and Sequoia Capital with Orios Venture Partners also participating in the fundraiser. The company was founded by Amit Bhasin, Kushal Karwa, Nitin Rana and Rishabh Karwa in 2016.
Earlier in January 2019, it had raised ₹35 crores in Series-A funding round led by Sequoia Capital and Orios Venture Partners.
In a media statement, Founder Amit Bhasin said, “The car repair market is oversupplied, as there are more than 300,000 multi-brand garages across the country already. Because of this, you do not see a high utilization rate across garages on an average. The decision to use the existing infrastructure and upgrade the same, rather than setting up our own ground up, helped us with speed-to-market and with the fundamental understanding of the domain.”
In a statement, Karwa said, “This is a big opportunity to use the existing assets and capacity of local garages and ensure a higher utilization rate so that it could be a win-win for all in the ecosystem.”
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