BusinessIndia

Hero MotoCorp CEO invests in GoMechanic

New Delhi: GoMechanic, India’s largest network of technology-enabled car service-centers, offering car service at the click of a button, on Thursday announced securing an investment from one of India’s foremost corporate leaders Chairman, MD & CEO, Hero MotoCorp Pawan Munjal,

This investment made by Dr Munjal in his personal capacity, comes in addition to the Series B round of institutional funding received by GoMechanic and would be used by the company to strengthen its technology stack, fuel geographical expansion, streamline spare parts procurement and amplify brand promotion.

Dr Munjal’s coming on board as an investor would further enhance the GoMechanic’s profile and add to the rapid growth of the start-up, which has already raised funds from prominent investors such as Sequoia Capital, Chiratae Ventures, Rohit Bansal, Kunal Bahl, Orios and Dhianu Das.

Commenting on the funding, Co-Founder – GoMechanic Amit Bhasin said, “Having Dr Pawan Munjal as an investor, will allow us to continue our aggressive geographical expansion besides investing in technological innovation, which has always kept us ahead of the curve. We are thrilled to have the opportunity to benefit from Dr Munjal’s depth of experience & knowledge about our automotive industry as we take confident steps to organise India’s humongous car & bike service market.”

Vice President, Sequoia Capital India LLP Abhishek Mohan said ‘With Mr. Munjal coming on board as an investor for GoMechanic, it will further fuel its growth and enable it to become a market leader in India with an eye at establishing global footprints.’

Executive-Director at Chiratae Ventures Ranjith Menon said “We welcome Mr Munjal to the GoMechanic family. His immense experience will help guide the company to scale bigger heights in months to come”

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