Tech-enabled GarageWorks raises $1M in a pre-Series A round
GarageWorks in Pune, a B2C technology-enabled startup that provides two-wheeler service to customers through a simple home process, said it had raised $ 1 million or Rs 7.5 crore in a pre-Series A-funded round of diverse investments. , which includes Hiten Shah, Gowri Narayanan, Ram Trichur, Fred Towfigh, Abhijeet Kumar, and Munendra Singh (founders of BB Daily).
This is the company’s second round of fundraising after the angel’s first round. Present Investors Drs. Aniruddha Malpani, Pawan Sharma (former CEO of KPIT Technologies), Gautham Radhakrishnan, and Gaurav Malhotra also participated in this cycle.
Through this sponsorship round, GarageWorks will focus on expanding its space, improving its technology, and hiring talent. Since its inception, GarageWorks says it has focused on providing two-wheel-drive owners with occasional repair, inspection, and repair services. Users can digitally plan home visits for trained and competent partners, he said.
“We are excited to bring about change in the two-wheeled system, and this recent investment will support us in realizing our vision,” said Shishir Gandhi, Founder, and CEO of GarageWorks.
GarageWorks claims to have served more than c.80,000 customers and currently receives a savings rate of 70%. The center provides more than 200 daily car service services and has completed more than 1.2 lakh health services, he said.
In addition, it plans to build a strong two-wheeler complete marketplace, which will include Tires, Batteries, Insurance, Loans, and Warranties.
“The rules of the post-Covid ecosystem and consumer preferences have seen tectonic fluctuations in digital integration, high quality, and simple needs. This is reflected in the 10-fold increase in visits to our websites and the fourfold increase in our volume, ”Shishir said.
He also said that GarageWorks aims to secure space in the top 10-12 cities and make departmental services an important decision for customers to manage their two wheels. “Whether it’s IC or EV engines, our focus on technology, data, and asset lighting performance enables GarageWorks to disrupt the two-wheeled ecosystem from car sales to the end,” he adds.
“We are delighted to support Shishir and the team at GarageWorks as they seek to transform the 2-wheeler market in India. We are impressed with their success so far and are excited about the product opportunities in the financial services system, ”said Hitesh Shah, one of its investors.
“In the long run, GarageWorks aims to be the only real life cycle for two-wheeled ownership, from insurance repairs and maintenance to the real estate and accessories market,” the company said in a statement.
The Pune-based implementation also creates a self-supporting ecosystem for self-employed people who wish to run their own repair and supply business. The digital ecosystem eliminates the need for a physical setting, which allows anyone to start their own business. GarageWorks training and support enable them to become professional service providers, he added.
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