GoMechanic raises $42 million in funding led by Tiger Global

Car servicing startup GoMechanic on Wednesday said it has raised $42 million (around Rs 311 crore) in a funding round led by Tiger Global Management. The Series C funding round also saw participation from existing investors Sequoia Capital India, Orios Venture Partners and Chiratae Ventures.

It is the fourth round of institutional funding for the company which plans to utilise the proceeds to accelerate its growth in tier II and III towns, ramping up the technology team and launching operations in international markets.

Prior to this round, GoMechanic had raised $21 million from Sequoia Capital India, Orios Venture Partners and Chiratae Ventures.