GaadiMech Secures Rs 1.5 Crore in Pre-Seed Round to Transform India's Automotive Servicing
GaadiMech, a startup aiming to revolutionise India's unorganised automotive servicing sector, has secured Rs 1.5 crore in a pre-seed funding round. The company follows an asset-light model and plans to expand its operations across India.
GaadiMech operates through an integrated model of online booking and physical service centres. Its flagship service, the '90-Minute Express Car Service', offers express car services, upfront pricing, and genuine spare parts. The company aims to bring greater reliability and transparency to the largely unorganised sector.
The pre-seed funding round was led by venture capital firm AJVC at a valuation of $2 million. Other investors include Sprout Venture Partners, Survam Partners, and an undisclosed institutional investor. AJVC, which also supports early-stage companies like Nuyug and Mithila Foods, recently closed its maiden fund with commitments exceeding Rs 200 crore. GaadiMech will use the funds to expand operations beyond Jaipur, strengthen its product and tracking systems, and standardise service quality.
GaadiMech's successful pre-seed funding round signals investor confidence in the company's asset-light service model and its potential to disrupt the unorganised automotive servicing sector in India. With the raised funds, GaadiMech is poised to expand its operations, improve its services, and bring greater reliability and transparency to the market.
Read also:
- Industrial robots in China are being installed at a faster rate than in both the United States and the European Union, as the global market for these robots faces a downturn.
- Undeads Games Reaches $30 Million TVL and Gears Up for MMORPG Debut
- Hyundai N affirms transition to hybrid performance-centric models, initiating with Tucson N
- Bank of America reveals investigation into Zelle platform, hints at potential legal action
