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Pawan Munjal, Chairman, MD & CEO, Hero MotoCorp, has recently invested an undisclosed amount in automobile repair and service solution start-up, GoMechanic India. This investment is not a part of Hero MotoCorp, Pawan Munjal has made this investment in his personal capacity.
This investment will help GoMechanic strengthen its technology stack, fuel geographical expansion, streamline spare parts procurement and amplify its brand promotion. The start-up has also raised funds from prominent investors such as Sequoia Capital, Chiratae Ventures, Rohit Bansal, Kunal Bahl, Orios and Dhianu Das.
Commenting on the funding, Amit Bhasin, Co-Founder - GoMechanic, said, "Having Dr 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. We are thrilled to have the opportunity to benefit from Dr Munjal's depth of experience & knowledge about our automotive industry as we take confident steps to organise India's humongous car & bike service market."
GoMechanic was founded by Kushal Karwa, Amit Bhasin, Rishabh Karwa and Nitin Rana in 2016, and it offers technology-enabled car service solutions. The company also claims that its repair services are 40 per cent lower compared to an authorised service centre. It also has a network of 280 plus car repair workshops across Delhi-NCR, Hyderabad, Mumbai, Pune, Bengaluru, Chennai, Ahmedabad, Pune and Chandigarh.
In other recent auto news, Hero announced a marginal hike in prices for its Pleasure+ scooter in the Indian market. The Hero Pleasure+ scooter now comes with a price hike of Rs 800, with the starting price now Rs 55,600 ex-showroom. The scooter is available in two variants: metal wheel and alloy wheel and top-spec variant are now available at Rs 57,600, ex-showroom.
The Hero Pleasure+ is powered by a 110cc single-cylinder air-cooled BS6 engine producing 8bhp of power at 7,500rpm and 8.7Nm of peak torque at 5,500rpm. The scooter comes loaded with chrome accents all around, this includes the surrounds for the headlamps and on the side body panels as well giving it an upmarket look.
Thoughts About The Investment Made To GoMechanic
The GoMechanic app is really helpful. It allows you to sit at home and relax, which a technician will pick your car up, service it and drop it off at your doorstep. With all the investments done, the start-up is now expected to deliver more seamless repair and service experience.