Pitstop, an aftersales car service provider, has acquired MotorWhiz in a part cash part stock deal. The quantum of the deal has not been disclosed yet.
Following the acquisition, the Delhi-NCR-based MotorWhiz’s will join Pitstop board to expand and upgrade the Bengaluru-based startup’s product offerings in newer geographies.
Pitstop was floated by Mihir Mohan and Nirant Ramakuru in 2015, who spent about three years with Flipkart. Their existing operations cover three major cities Bangalore, Hyderabad, and Chennai and Delhi-NCR region.
The company offers general repair and maintenance services for cars through its doorstep service vehicles. Currently operational in six cities, Pitstop works with over 150 garages and workshops as also directly with customers, offering regular services, mechanical and electrical repair, body repair and doorstep inspection for cars.
Pitstop also works with fleets and leasing firms, including ride-sharing startups where it uses its proprietary SaaS-based Fleet Information System to provide a real-time view of service repairs, transparent vehicle maintenance, and fleet management services.
The firm claims to services about 4,000 orders each month clocking revenues of about Rs 2 crore on a monthly basis. It receives 10-18 per cent in commissions per service from its partner garages and is on the road to turning profitable in the January-March quarter of 2018.
Pitstop competes with the likes of Gaadifix, Clickgarage, SpareHub.com, Bookmycarservice, and others. Post the acquisition the firm aims to have an edge over these startups in one stop Location Based Mobile Solution for Car Service & Repair Jobs.
Earlier, Pitstop had raised pre-Series A funding of $1 million from a group of investors including Blume Ventures, and existing investors Goldbell Group and the founder of Moglix, Rahul Garg. Prior to that, it raised an undisclosed amount of seed funding from Lex Chua, CEO of Goldbell Group; and Rahul Garg in July 2016.
The development was reported by ET.