EXCLUSIVE: Hero Group Chairman Pawan Munjal invests in car servicing startup GoMechanic
Pawan Munjal’s investment is a part of the Series B round raised by GoMechanic.
- The startup had already raised $15 million from Chiratae Ventures, Sequoia Capital and Orios Venture Partners last year.
- GoMechanic has 280 technology-enabled multi-brand network of car service centers and workshops across twelve cities in India.
Munjal’s investment is in his personal capacity, similar to how he has invested in Ola Electric.
“We had been in talks with the investment team of Mr Munjal, and we couldn’t have asked for a better partner – an industry veteran with years of experience and standing in the market,” Amit Bhasin, co-founder of GoMechanic told Business Insider.
GoMechanic has 280 technology-enabled multi-brand network of car service centers and workshops across twelve cities in India. The four-year old startup has big plans for the year despite the pushback from the coronavirus pandemic.
“Currently we service anywhere close to 15,000 cars a month. We will be hitting those numbers by next month, right now we are at 80% of the pre covid numbers, By December, we aim to double these numbers,” said Bhasin.
During the lockdown, the founders only saw the need for such a service. They now plan to expand to more Tier 2 cities.
“Ours is a technology-first place which also gives us the opportunity to scale much faster. Tech ensures that the brand experience remains constant while we scale cities in a very cost effective manner,” said Kushal Karwa, cofounder of the company.
The startup has also redesigned its operations due to the coronavirus pandemic. “We have invested heavily in technology to reduce human interactions. Currently, most of our orders are being done with the pick up and drop model, while all the updates are available on the app,” said Bhasin.
But they are also aware of the future – electric vehicles. The startup has partnered with Revolt Bikes, which produces EV bikes, and is the default after sales workshop for them which includes – repair and services, swapping of batteries. They had also brought on board Suyash Kumar, who was the eMobility business lead for Ashok Leyland and is now leading the startup’s EV strategy and plan. “We have also partnered with companies to set up EV charging stations within our workshops,” said Karwa.
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