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Car service platform Pitstop raises funding of $1m: Report

Car services and repair platform Pitstop has raised preSeries A funding of $1 million from a group of investors including Blume Ventures, and existing investors like Singapore-based Goldbell Group and the founder of Moglix, Rahul Garg, reports The Economic Times.

It looks like the funding will be used to up its technology game and senior executives, as the co-founder  Mihir Mohan’s Linkedin profile says ‘looking for senior tech talent’.

Pitstop was started in 2015 by Mihir Mohan and Nirant Ramakuru and raised an undisclosed amount of seed funding from Lex Chua, chief operating officer of Goldbell Group; and Rahul Garg in July, 2016. The company caters to people who are looking for car service after their dealership service warranty is over. The startup currently has services in Bangalore, Delhi, and Gurgaon.

According to its Facebook page’s description, Pitstop also offers 24×7 emergency car care. The platform also has an Android mobile app, which also allows users to track service status of the car. Pitstop currently offers services in Bengaluru, Delhi-NCR, Hyderabad, and Chennai.

The company is building a multi-brand car service garages by providing technology platform, processes, spare parts and right diagnostic tools and equipment, as indicated by this Inc42 report. It also works with ride-sharing companies and utilizes a SaaS-based Fleet Information System that provides a one-stop real-time view of service repairs.

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Competition

While car rentals and cab aggregators have seen a lot of action in the last couple of years the segment there is a dearth of information for users to find maintenance shops. Last year, Quikr acquired Stepni, an online platform that connects vehicle owners with mechanics, garages, car accessory outlets etc. for an undisclosed amount. consumers will be able to shortlist and avail automobile service providers for vehicles within 5 kms of their location through the integration. Stepni currently lists over 125 such service providers in Bangalore city.

The company seems to compete with other startups like Gaadifix, Clickgarage, SpareHub.com, Bookmycarservice, MeriCAR.com, CarZippi

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