Tuesday, November 12, 2019

Auto services startup GarageOnRoad secures seed funding

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GarageOnRoad, a Noida-based startup, which offers auto repair service, has secured an undisclosed sum in its seed funding round. The money comes from Jerry Gupta, senior vice president at reinsurance multinational Swiss Re.

Along with Jerry Gupta, Rakesh Bhatia, who is an entrepreneur and chief strategy officer at GarageOnRoad, will also invest in the startup. The company says that Jerry Gupta has also committed to fund the company for another 6-8 months.

The investment raised in this funding round will be used by the company to enhance its technology and operations. It also plans to introduce features like on-demand car services, cleaning, among others. It is also looking to start operations in other cities as well.

GarageOnRoad was founded in 2016 by Ranjan Bhatia. The startup works through a mobile app to provide roadside assistance to users without any subscription charges. It works with a network of garages to provide assistance round the clock with one time booking charges.

According to Ranjan, the company currently has more than 5,000 registered users on its platform and over 1,100 mechanics to provide various services.

In this space, GarageOnRoad competes against the likes of Pitstop and GoMechanic. Pitstop recently raised $1 million (Rs 6.5 crore) in a pre-Series A round from Blume Ventures, Goldbell Group, and a group of angel investors. On the other hand,  GoMechanic raised a seed funding from Orios Venture Partners in August this year.

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