Car service startup Pitstop raised $3.5 mn in pre-Series B round led by Ventureast

Pitstop, a tech-enabled multi-brand car service provider, has raised $3.5 mn in a pre-Series B round led by Ventureast, along with ACKO Technologies, LetsVenture, AngelList India, and Blume Ventures, among others. The company would use the funds to strengthen its end-to-end car maintenance operations in the existing cities and further expand to 20 additional cities in the next three quarters.

As part of this expansion, Pitstop is adding 250 service vans — its primary mode of delivering car maintenance and service — and is also enrolling 350 garages in the new cities to build the required geographical penetration. It is fully operational in five cities, including the Delhi-NCR region.

Pitstop aims to address the massive gap in the car service industry, where only 8,500 branded and authorised service centres cater to over 32 mn cars. It works with existing local multi-brand car service providers by reskilling, training, and giving access to state-of-the-art equipment and OEM spares. Claims the biggest surge in its customer base came from women car owners, growing from a negligible level in early 2020 to close to 23% today.

5 views0 comments