Servicing automobiles is an age-old business. Does going online make it more profitable or efficient enough for a venture investor to smell disruption?
It is a little difficult to explain why anyone would cough up $60 million to invest in a business that services automobiles. Almost everything about it feels brick and mortar. More often than not, this does not fit the investing thesis of venture investors on the lookout for startups which can disrupt existing industries using technology. And yet GoMechanic has pulled off this remarkable fundraising feat.
Founded in 2016 by Kushal Karwa, Amit Bhasin, Rishabh Karwa and Nitin Rana, GoMechanic has raised close to $60 million from some marquee investors, including Tiger Global, Sequoia Capital India, Orios Venture Partners and …
Sowmya is a former writer at The Morning Context, who covered consumer internet startups—from cloud kitchens and online pharmacies to e-commerce and direct-to-consumer brands. She joined us from The Hindu, where she covered technology, including policy and corporations.
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