Bengaluru-based car service startup Pitstop will invest $1 million on its entry into Singapore, and also plans to enter Malaysia and Vietnam by 2020.
Pitstop, which provides doorstep car service and repairs, is going international. The three-year-old startup entered into a joint venture with Goldbell Group, launching an end-to-end platform for service management and vehicle repairs in Singapore.
Pitstop will invest $1 million to expand operations and aim to increase adoption among end customers and fleets by Q1 FY19.
“It is a proud moment for all of us. Technology knows no boundary. The vision is to enable convenient, transparent and trustworthy service, and repair of automobiles in Singapore using our technology platform, similar to what we have been executing in India,” said Mihir Mohan, founder and CEO.
Pitstop claims to be the first automobile services company to spread its wings beyond India. Within one quarter of its Singapore launch, it expects to expand its offerings to multiple fleets and end customers. By 2020, the company also plans to expand to Malaysia and Vietnam, through this joint venture.
Based in Bengaluru, the company also operates in Delhi, Gurgaon, Mumbai, Pune, Chennai and Hyderabad. In the last nine months, it has serviced close to 50,000 cars.
Since its inception, Pitstop has raised two rounds of funding worth $2.9 million from Blume Ventures and Goldbell Group. The company is serving nearly 5,000 orders per month, and has achieved a monthly topline of Rs 3 crore.
Singapore headquartered Goldbell Group is the market leader in industrial vehicles and the authorised dealer for several global car makers. It has operations in Malaysia and Vietnam and more than 800 employees worldwide. Singapore operations of Pitstop have been launched with Goldbell Car Rental, a subsidiary of the group.
Prior to Pitstop, Mihir had launched two startups - N-net Technologies and Unamia.