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GOMECHANIC INVEST
VCs turn the screws; Ex-Paisabazaar CEO’s new betHappy Friday! Investors are rewriting the rules of engagement with founders after governance blowups. This and more in today’s ETtech Morni...- GoMechanic eyes over three-fold business growth to Rs 700 crore by 2027 before launching IPOGoMechanic at present provides services through 800 garages across 125 cities and plans to scale up to 2,500 garages across 500 cities by 2...
- Orios Venture Partners sells nearly 3% stake in Country Delight for Rs 225 crorePeople familiar with the matter said the early-stage venture capital firm has sold about a 3% stake in Country Delight to Temasek-backed as...
- Peak XV, Orios, Chiratae file EOW complaint over financial irregularities at GoMechanicThis development comes seven months after Gurugram-based GoMechanic’s founders admitted to financial misreporting in a LinkedIn post. Orios...
- Exclusive: Behind Tata Neu’s muted first year performance; Gokul Rajaram on Indian startups, valuations & moreTata Digital's much-hyped superapp Neu has had a slow start in its first year of launch. Sources told us that the platform contributed less...
- NCLAT upholds CCI’s Rs 1,338-crore fine on Google; GoMechanic gone in slump saleThe NCLAT bench has directed Google to carry out the competition regulator’s directions and deposit the fine within 30 days. The penalty of...
- ETtech Long Read: How GoMechanic founders floated new business as trouble mounted at car servicing startupWhile it isn’t unusual for new ventures to approach investors to raise capital at an early stage, March 2022-founded Morsebiz’s journey wea...
- Sequoia considers auditing South Asia investments as lapses riseSequoia Capital India will also be more selective when taking board seats at companies and, in some cases, might replace junior members fro...
- Pricewaterhouse raised issues with GoMechanic’s operations in its FY20 auditPricewaterhouse audited financial statements of GoMechanic only for the 2020 fiscal year, following which it was replaced by BSR & Co, an a...
- How GoMechanic unravelled after SoftBank-Khazanah funding round collapsedGoMechanic will initiate financial audit, lay off 70% staff: cofounder Amit Bhasin in a LinkedIn post.
- Pricewaterhouse flagged discrepancies in GoMechanic’s FY20 audit; PhonePe raises $350 million with more to comeA senior executive at one of the ‘Big Four’ audit firms said qualifications are always a negative for a company and it means the company be...
- Investors of GoMechanic seek audit into 'inflated' financialsThe investors - Tiger Global, Sequoia Capital and Chiratae Ventures - have jointly appointed a third-party firm to investigate the matter i...
- GoMechanic founder Amit Bhasin admits to financial misreporting; firm to lay off 70% employeesGoMechanic layoffs will affect about "70% of the workforce", said cofounder Amit Bhasin in a LinkedIn post
- The unravelling of GoMechanic after SoftBank-Khazanah funding collapsed; Oyo to refile IPO papersWith SoftBank and Malaysia’s Khazanah pulling the plug on GoMechanic funding round after EY flagged issues like inflated revenues, fictitio...
- 'We got carried away.' Co-founder of GoMechanic, which sacked 70% staff, introspects, here's how LinkedIn reactedAmit Bhasin tried to present his side of the story in a lengthy post.
- SoftBank plans $35 million bet on India's GoMechanicVision Fund's early-stage talks with GoMechanic are being held around a valuation of $600-700 million, with Malaysian sovereign fund Khazan...
- ETtech Deals Digest: Classplus, CommerceIQ raise funds this weekIndian startups bagged smaller rounds this week compared to the previous one
- GoMechanic raises $42 million in funding led by Tiger GlobalThe Series C funding round also saw participation from existing investors Sequoia Capital India, Orios Venture Partners and Chiratae Ventur...
- GoMechanic gets funding from Pawan MunjalThe latest funding would be used by the company to strengthen its technology stack, fuel geographical expansion, streamline spare parts pro...
- GoMechanic raises Rs 105 crore in latest round of fundingThe investment will be used to support expansion into 10 more cities by the end of 2020 in its EV thrust, brand promotion and in streamlini...
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