The country's largest two-wheeler manufacturer, Hero MotoCorp's Chairman, MD & CEO, Pawan Munjal has recently made an undisclosed amount of investment in automobile repair and service solution start-up, GoMechanic India. The investment has been made by Munjal in his personal capacity and not as part of Hero MotoCorp. GoMechanic says that the investment comes in addition to the Series B round of institutional funding received by the company, and it will be used to strengthen its technology stack, fuel geographical expansion, streamline spare parts procurement and amplify brand promotion. The company, thorugh its digital platform, allows car owners to schedule a repair or service online, with pickup and drop service.
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In addition to the investment from Pawan Munjal, GoMechanic has also received funding from Sequoia Capital, Chiratae Ventures, Rohit Bansal, Kunal Bahl, Orios and Dhianu Das
Commenting on the funding, Amit Bhasin, Co-Founder - GoMechanic, said, "Having Dr Pawan Munjal as an investor, will allow us to continue our aggressive geographical expansion besides investing in technological innovation, which has always kept us ahead of the curve. We are thrilled to have the opportunity to benefit from Dr Munjal's depth of experience & knowledge about our automotive industry as we take confident steps to organise India's humongous car & bike service market."
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GoMechanic offers technology-enabled car service solutions and operates with a network of 280+ car repair workshops across India
So far, GoMechanic India has raised funds from prominent investors such as Sequoia Capital, Chiratae Ventures, Rohit Bansal, Kunal Bahl, Orios and Dhianu Das. Now, with Pawan Munjal coming on board as an investor, the company expects to further enhance its profile and add to the rapid growth of the start-up. We did reach out to Hero MotoCorp for a reaction on Munjal's latest investment, however, as of now, our email remains unanswered.
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GoMechanic was founded by Kushal Karwa, Amit Bhasin, Rishabh Karwa and Nitin Rana in 2016, and it offers technology-enabled car service solutions. The company makes bulk procurement of spare parts from OEMs and has zero real-estate overheads, which it says, results in significant savings that are passed onto the customers. In fact, GoMechanic claims that its repair services are 40 per cent lower compared to an authorised service centre. It currently operates with a network of 280+ car repair workshops across Delhi-NCR, Hyderabad, Mumbai, Pune, Bengaluru, Chennai, Ahmedabad, Pune and Chandigarh.
