Fund Raising
LetsService intends to use the current round of funding to improve its technology base and to expand into other cities.
  • Wednesday, October 11, 2017 - 09:24
Image source: LetsService Facebook page

LetsService Automotive Technologies as raised an undisclosed amount in pre-series A funding from Aequs Group, which has interests in the aerospace components manufacturing space, reports VCCircle. LetsService runs a two-wheeler servicing business based out of Bangalore.

The previous funding came from angel investors Ajay Prabhu, CEO of QuEST Global and Deepak Vinchhi, co-founder of Julia Computing Inc.

Founded two years ago by Sachin Vasanth Shenoy, Girish Gangadhar and Sachin Shrikanth Radder, the startup has around 350 service centres across Bengaluru, Mumbai, Pune, Hyderabad and Chennai and uses technology to link up these centres to offer digitized repair and maintenance service for two wheelers.

LetsService intends to use the current round of funding to improve its technology base and also to expand into many other cities, beyond the ones being covered now. Their business model allows them to plug their resources to two-wheeler dealers and that helps them provide 360-degree solutions to the customers, both from the perspective of the dealership as well as the owners of the vehicles.

It may not be out of place here to recall the different fund-raising reports from startups in the same automotive servicing segment.

Pitstop raised $1 million recently, which was also a pre-series A funding. The investors were Blume Ventures and Goldbell Group from Singapore besides some angel investors.

It was GoMechanic earlier with the car repair and maintenance startup receiving its seed funding from Orios Venture Partners. Before that, SparesHub.com and BookServicing had also been in the news having raised funding from different investors. Most of these startups are in the servicing business and offer a variety of services to their customers.