Pitstop raises $3.5 million in pre-Series B funding led by Ventureast

Our Bureau Bengaluru | Updated on April 06, 2021

Pitstop will use this funding to strengthen its end-to-end car maintenance operations

Pitstop, a tech-enabled multi-brand car service provider, has raised $3.5 million in a pre-Series B round. The funding was led by Ventureast with participation from ACKO Technologies, LetsVenture, AngelList India, Blume Ventures, among others. The company had earlier raised funding from Landmark Cars (one of India’s largest car dealership chains), Anuj Srivastava and Ramakant Sharma from Livspace, Rahul Garg from Moglix, Shailesh Rao to name a few.

Pitstop will use this funding to strengthen its end-to-end car maintenance operations in the existing cities and further expand to 20 additional cities by the end of the year. As part of this expansion, Pitstop will be adding 250 service vans, which are its primary mode of delivering car maintenance and service. Pitstop will also be enrolling 350 garages to build the required geographical penetration into each new city added. Pitstop is currently fully operational in five cities including the NCR region.

“Technology is at the core of what we do, and our investors have recognized it. Our goal has always been to provide a hassle-free and seamless doorstep car servicing experience. And, the Pitstop app complements our goal by providing a one stop solution for customers looking to get their car serviced, repaired, and maintained with minimum touchpoints. The current capital infusion will enable us to strengthen our operations in the existing locations and at the same time tap the rich talent pool available in India” said Mihir Mohan, Founder, Pitstop.

Founded in 2015, Pitstop aims to address the massive gap in the car service industry where only 8,500 branded and authorized service centres exist to cater to over 32 million cars.

Published on April 06, 2021

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