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Tapping into a Billion Dollar Opportunity, GoMechanic Secures Seed Funding From Orios Venture Capital

Amit Bhasin and Kushal Karwa who are alumni of IIM Ahmedabad, founded the company in 2016.

Car repair and automobile servicing startup GoMechanic has raised seed funding from Orios Venture Partners and Mr. Dhianu Das, a leading angel investor. These funds will be used for expanding partnerships with car service centers and customer acquisition. Operating in a 20,000 Crore market which is expected to grow to 33,000 crore market, GoMechanic is tapping the opportunity in the after sales servicing market of cars.

GoMechanic is a technology enabled branded network of service centers with a promise of original spare parts, warranty on services and free pick and drop facility. GoMechanic targets over 4000 services/month by the end of 2017. With an average ticket size of INR 7000 and hybrid inventory model, GoMechanic plans to become a significant branded service center player by 2018.

“As a brand, our goal is to give car owners a seamless, professional yet affordable experience when they seek out repair and maintenance services.” said Amit Bhasin, Co-founder of GoMechanic. “This capital gives us additional resources to expand, innovate and deliver rapidly towards covering entire NCR.”

“Our focus will continue to remain on offering the customers the most transparent and reliable car repairs solution built on the back of a strong partner workshops network and a robust spare parts supply chain,” adds Kushal Karwa, Co-founder of GoMechanic.

Commenting on the investment, Rehan Yar Khan, Managing Partner, Orios Venture Partners said, “GoMechanic’s offering is an innovative solution to the rapidly increasing demand of quality auto services at affordable prices. The consistent deployment of technology and vision towards organizing an unorganized industry such as the auto spare and services market makes them good partners for us.”

Adding to this, Dhianu Das, Angel Investor said, “GoMechanic is solving a very real problem, one that possibly every car owner in India faces regularly. The potential of this industry is immense and given their disruptive idea and effective execution, I believe GoMechanic has the ability to become a market leader in the space. Supporting young companies such as this is exciting for investors like me.”

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GoMechanic seed funding Orios Venture Capital

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