a leading technology-enabled auto after-sales service and spare parts company,
has announced securing US$42Mn in Series C funding in a round led by Tiger
Global Management with the existing investors Sequoia Capital India, Orios
Venture Partners& Chiratae Ventures participating.
It is the 4th round of institutional funding
for GoMechanic. The proceeds of this funding round will be used to accelerate
GoMechanic’s growth and expansion in Tier 2 and 3 cities in India, ramping up
the technology team and launching operations in the international markets. The fund raise also includes $5 million buy
back of ESOPs of the early employees of GoMechanic.
GoMechanic will take its presence from the
current 35 cities to 100+ cities in India and triple the technology team size
from the current 60. Prior to this round, GoMechanic had raised a total of $21
mn from Sequoia Capital India, Orios Venture Partners and Chiratae Ventures.
Earlier in 2020, Pawan Munjal, Chairman, MD & CEO, Hero Motocorp invested
an undisclosed amount in the company.
Tyre major Ceat has partnered with MG Motors India for the launch of the MG Comet, the newest electric vehicle (EV) in India. As part of this partnership, Ceat will provide tyres for the MG Comet with...
Hyundai Motor India Limited has showcased exciting new 1st in segment features of Hyundai Exter. Customers can soak in the sights with smart electric sunroof while also capturing and chronicling memor...
Within the main technologies introduced at Auto Shanghai 2023– booth located in Hall 1.2H, Stand 1BF015– Marelli is presenting for the first time its “In-Cabin Advanced Technology Showcase”. This is a...