GoMechanic is an automobile car service and repair company that has expanded into spares, accessories and luxury-focused service centres. After being acquired by Lifelong Group’s subsidiary Servizzy following the founders’ admission to falsifying figures, the company reorganized its business lines into GoMechanic Service Business, GoMechanic Spares and GoMechanic Accessories. It claims a fourfold increase in revenue and projects that Spares and Accessories will double their revenues by the end of the fiscal year, but did not disclose actual numbers. GoMechanic Accessories offers items such as vacuum cleaners, Android car screens and tire inflators, sold on platforms including Amazon and Flipkart. The company operates GoMechanic LUXE service centres for brands such as Audi, BMW, Mercedes and Porsche and currently manages over 600 luxury cars per month. Prior to the acquisition it had raised nearly $62 million from investors including Tiger Global, Peak XV Partners, Orios Venture Partners, Chiratae Ventures and Stride Ventures. GoMechanic is a Gurugram-based, technology-enabled auto after-sales service and spare parts company. Its core business is delivering auto after-sales services and supplying spare parts via a technology-enabled platform. The company announced a $42 million raise in a Series C round. The Series C was led by New York-based investment firm Tiger Global Management. The fundraising was disclosed in an announcement published on Wednesday. The article did not name other investors, past financing rounds, or provide operating metrics or additional financial details. GoMechanic operates a franchise-owned company-operated (FOCO) network of car-repair workshops and offers pick-up and drop-off servicing with Basic, Standard, and Comprehensive plans. The Gurugram-based firm claims cost savings of up to 40% through bulk parts procurement, lower labour costs and real estate efficiencies. It currently has over 150 workshops across Delhi‑NCR, Hyderabad, Mumbai, Pune and Bengaluru. The company is renovating workshop infrastructure to add dedicated EV servicing bays and has an exclusive services and maintenance partnership with Revolt Motors. GoMechanic plans to use fresh capital to scale operations, expand to about 30 cities in 2020 and grow its pan‑India workshop network to 1,000 within two years. GoMechanic is an automobile repair and service solution startup. The company offers repair and service solutions for automobiles. It has raised ₹30–35 crore (about $4–$4.9 million) in a Series A round. The round was led by Sequoia Capital. The funding disclosure was reported by three people aware of the development who requested anonymity. The article does not disclose other participating investors or how the proceeds will be used.

Total raised

$68M

Funding rounds

4

Latest round

Equity

Latest activity

Nov 2023