[Funding alert] Car service startup Pitstop raises $3.5M in pre-Series B round led by Ventureast
Summary
Pitstop, a Bengaluru-based tech-enabled multi-brand car service provider, on Tuesday said it raised $3.5 million in a pre-Series B round led by Ventureast, along with ACKO Technologies, LetsVenture, AngelList India, and Blume Ventures, among others. Earlier, the startup had raised funding from a marquee list of investors, including Landmark Cars, Anuj Srivastava and Ramakant Sharma from Livspace, Rahul Garg from Moglix, and Shailesh Rao, to name a few. It works with existing local multi-brand car service providers by reskilling, training, and giving access to state-of-the-art equipment and OEM spares. The startup claims the biggest surge in its customer base came from women car owners, growing from a negligible level in early 2020 to close to 23 percent today. The platform is also looking at 40-50 percent growth per month since the lockdown to further disrupt the car service, repair, and maintenance industry in India.