Private Equity Fund Investments
Car servicing platform GoMechanic raises $35-M from Tiger Global, Sequoia, Orios, Chiratae
Gurugram-based car servicing platform GoMechanic has raised USD 35 million in a round led by new investor Tiger Global (USD 26.25 million), with participation from existing investors Sequoia Capital India (USD 4.37 million), Orios Venture Partners (USD 2.63 million) and Chiratae Ventures (USD 1.75 million). The company has allotted 4,722 Series C CCPS at an issue price of INR 541,061 each. GoMechanic's valuation (post money) stands at INR 2,294.53 crore. The shareholding of PE-VC investors is 65.24% (on a fully diluted basis), while the promoters Kushal Karwa and Amit Bhasin hold 10.27% each. The company had reported a turnover of INR 17.82 crore for FY19.
From the Venture Intelligence PE-VC Deal Database: From Mar-17 to Jun-21 (including the latest round), GoMechanic has raised nearly $55-M from Orios VP, Chiratae Ventures, Tiger Global and Sequoia Capital India. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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