Indian car maintenance startup banks $3.5m in VenturEast-led round

India-based car maintenance and service provider Pitstop has raised US$3.5 million in its latest round of funding.

More funding details

• Lead investor: VenturEast
• Returning investors: Acko Technology, LetsVenture, AngelList India, and Blume Ventures
• Stage: Pre-series B

More company updates

• Pitstop will use the funds raised to develop the company’s end-to-end car maintenance operations in its existing markets and to bankroll its plan to expand across 20 more cities in India by the end of 2021.
• It is also looking to add 250 service vans and enroll 350 garages to build geographical penetration into each new city.
• The company says it has grown 40% every month in 2020, with its biggest surge in customer base coming from women car owners.
• This capital infusion brings Pitstop’s total funds raised to US$9.7 million.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.