Car service and repair firm GoMechanic recently secured USD 6 million in fresh capital. The funding round was led by new investors, with participation from existing shareholders such as Stride Ventures and Lifelong India. The company plans to utilise the funds to expand its presence in new territories, onboard new workshops and franchises and explore different formats.
Following its acquisition by Lifelong Group’s Servizzy, GoMechanic aims to enhance transparency and improve cost-effectiveness. It has diversified its business lines, catering to service, spares and accessories and has entered the luxury and premium services market through GoMechanic LUXE.
Lifelong India, founded in 1985, is a Delhi-based supplier of automotive components, with a turnover of USD 10 million. Prior to the acquisition, GoMechanic had raised a total of USD 62 million from investors including Tiger Global Management, Peak XV Partners, Orios Venture Partners and Chiratae Ventures.
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