New Delhi, Jun 18, 2020: Hero MotoCorp Chairman Pawan Munjal invests in Car servicing startup GoMechanic.
The investment made by Munjal in his personal capacity comes in addition to the Series B round of institutional funding received by the company, GoMechanic said in a statement.
The latest funding would be used by the company to strengthen its technology stack, fuel geographical expansion, streamline spare parts procurement and amplify brand promotion, it added.
Munjal’s coming on board as an investor will further enhance the company’s profile and will add to the rapid growth of the startup, which has already raised funds from prominent investors such as Sequoia Capital, Chiratae Ventures, Rohit Bansal, Kunal Bahl, Orios and Dhianu Das, it said.
“Having Pawan Munjal as an investor will allow us to continue our aggressive geographical expansion besides investing in technological innovation, which has always kept us ahead of the curve,” GoMechanic Co-Founder Amit Bhasin said.
Sequoia Capital India LLP Vice President Abhishek Mohan said Munjal’s coming on board as an investor for GoMechanic will further fuel its growth and enable it to become a market leader in the country with an eye on establishing global footprints.