GoMechanic 2.0 – GoMechanic, a car maintenance and repair platform, announced on Wednesday that it had raised $6 million (about Rs 50 crore) from an unnamed marquee investor, in addition to contributions from existing investors.
After financial problems were discovered under prior management and the corporation was placed up for sale by the investors, the company was acquired by Servizzy, a subsidiary of the Lifelong Group, in March.
“GoMechanic is pleased to announce the recent success of its latest fundraising round, securing an impressive $6 million in capital,” the organization said in a statement.
It is the company’s first fundraise since being acquired by Servizzy.
“This achievement represents a significant vote of confidence from the investment community, existing shareholders Stride Ventures and Lifelong Group, and the startup community in the company and the potential of its business model.” This reflects the company’s consistent and all-encompassing growth and advancement,” GoMechanic’s new co-founder and CEO Himanshu Arora remarked.
Without revealing the investor’s name, GoMechanic stated that the marquee investor is “a notable leader in the investment industry” and has taken on a vital position as the lead investor alongside the existing shareholders. “We are committed to developing a brand that consumers can rely on for car repairs and services.” “Our goal is to serve one out of every ten aftermarket vehicles in the next three years,” Arora said.