After sales car service startup Pitstop catches fancy of existing investors again, gets $1.6 Mn

Pitstop

After-sales car service provider Pitstop, which connects car owners with multi-brand garages on its platform has bagged $1.6 million as a part of its pre-Series A funding round from existing investors Singapore-based Goldbell Group and Blume Ventures.

The previous tranche of pre-Series A round came in September, last year when it raised $1 million from the aforementioned investors. In 2016, the company had raised $300,000 in angel funding from founders of Myntra, Moglix, Livspace, and others.

The Bengaluru-based startup will deploy the fresh capital to ramp up its flagship product ‘Doorstep service’ across Bengaluru & Delhi-NCR. Besides, it plans to invest in high-end technology to support the infrastructure.

Founded by Mihir Mohan and Nirant Ramakuru in 2015, Pitstop currently works in six major cities including Bengaluru, Hyderabad, Chennai, and Delhi-NCR region. The company offers general repair and maintenance services for cars through its doorstep service vehicles.

Currently, Pitstop works with over 150 garages and it claims to have serviced more than 2,300 vehicles at doorstep over past 6 months via its ‘Doorstep Service’.

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 company claims to service about 4,000 orders daily clocking revenues of about Rs 2 crore on monthly basis. It receives 10-18 per cent in commissions per service from its partner garages.

Last month, Pitstop acquired Delhi-NCR-based MotorWhiz’s in a stock-and-cash deal to further enhance its technology base as also expand geographically.

In similar space, Pitstop competes with a slew of startups likes Gaadifix, Clickgarage, SpareHub.com, Bookmycarservice, and others.

The development was first reported by ET.

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here