Pitstop, an online platform delivering one stop solution for all car care needs, announced it has raised $2.5 million Series A funding led by TPG backed-Group Landmark. In 2019, the company had raised $2.9 million from Blume Ventures & Goldbell Group of Singapore.
The funds will be utilised to fuel its expansion plans. The company is looking to expand its services network to 15 more cities by this year, the company said in a release. Besides, Pitstop is planning to onboard over 1,000 garages and more than 1,500 service vans by 2021, the release added.
“With about 200 garages on-boarded on this model, we want to fuel Pitstop’s growth to be the market leader in the space in India with an eye at establishing footprints in Singapore, Vietnam, and other South-east Asian countries,” Group Landmark said.
“There is a great deal of learning from Group Landmark as we set up our network of hyper-local garages and fleet of doorstep vans to take Pitstop to the next 1-lakh customers,” Pitstop founder and Chief Executive Officer Mihir Mohan said.
The company will be using these funds to expand its garage and doorstep service network and build an integrated retail supply chain network for the spares business, Mohan added.
Currently, Pitstop is offering its services to over 1 lakh customers in Bengaluru, Delhi, Pune, Hyderabad, Chennai, Noida, Gurgugram and Faridabad.
Launched in 2015, Pitstop is the country’s first independent doorstep car service and repairs provider. With its wide network of garages and a doorstep inspection and service model, Pitstop offers a complete value chain solution for car owners.
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