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Kul Bhushan · · 1 min readSequoia-backed Indian car service startup nets $42m in Tiger Global-led round
GoMechanic, a car-servicing startup based in India, has raised US$42 million in its latest funding round.
More funding details
- Lead investor: Tiger Global
- Other investors: Sequoia Capital India, Orios Venture Partners, and Chiratae Ventures
- Stage: Series C
More company updates
- GoMechanic says it will use the fresh funds to expand its presence in Tier 2 and Tier 3 cities in India.
- It also aims to grow its technology team 3x from its current headcount of 60 employees and launch operations in international markets.
- The latest funding also includes a U$5 million buyback of employee stock ownership plans (ESOPs) held by GoMechanic’s early employees.
- The new round comes after the startup raised US$14.7 million in a series B round led by Sequoia Capital in December 2019.
- Founded in 2016, GoMechanic operates a network of technology-enabled car service and spare parts centers that aims to make the experience easier for customers.
For more coverage of the company, head here. You can also click on the link below to view key details about the company as well as its funding history.
Editing by Collin Furtado
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