ReadyAssist raises $5M led by Howen International Fund SPC in pre-Series A round
The funds will be deployed to further enhance the service network to bring in speed and availability through technology across every nook and corner of India.
Bengaluru-based roadside assistance startup has raised $5 million as part of its ongoing pre-Series A round led by Howen International Fund, SPC.
The funding is aligned with the company’s growth plans and vision to provide a 24/7, worry-free driving experience to vehicle owners across India, through its network of skilled service providers connected through technology, according to a statement.
While ReadyAssist has been predominantly working with large B2B partners, the capital raised will now be leveraged to make roadside assistance even more accessible to direct consumers through its B2C subscription model. ReadyAssist already has a base of more than 600,000 active subscribed customers, with 50% of them being cars and 10% EVs.
The funds will also be deployed to enhance the service network further to bring in speed and availability through technology across every nook and corner of India. The top 50 cities in India have been selected by ReadyAssist for building and nurturing the EV skill sets in mechanics, during the first phase.
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“ReadyAssist has always been driven to ensure maximum availability of our services to every customer in the country even during the most difficult days. This funding will definitely help us add wings to our service and ensure that India witnesses an uncompromised 24/7 road-side assistance from ReadyAssist across the country in the months and years ahead. Supporting the Indian EV ecosystem and adding speed to our services will have our special focus," said Vimal Singh SV, Founder and CEO of ReadyAssist.
Edited by Affirunisa Kankudti