- The company will utilize the raised capital to develop its product for B2C customers via a subscription model
- It will also expand its service network; aims to nurture EV skill sets in mechanics
A 2018-born startup ReadyAssist, which provides roadside assistance services like battery jumpstart, fuel delivery, key unlocking, towing and flat tire repair, recently secured $5 Mn in its pre-Series A funding round. The round was led by Howen International Fund. It is noteworthy that in its seed round last year, the startup raised $1 Mn from angel investors.
Founded by Vimal Singh SV, ReadyAssist works with 5,000+ service providers to help out users suffering from vehicle failure on the road, with on-the-spot repairs and service. In addition to providing the aforementioned services, it also provides doorstep full-bike service. The company claims to cover 16,650 pin codes across India.
“This funding will help us add wings to our service and ensure that India witnesses uncompromised 24/7 roadside assistance from ReadyAssist across the country in the months and years ahead. Support to the Indian EV ecosystem and adding speed to our services will have our special focus,” said the founder and CEO, Vimal Singh SV.
Vishal Rana, director of Howen International, stated, “We are excited to move this collaboration forward and be the partner that would support ReadyAssist scale across geographies.”
The company has also earmarked 50 cities in India for the building and nurturing the EV skill sets in mechanics. It will utilize the funds to enhance its service network this way.
ReadyAssist claims to have over 600,000 active subscribed customers. At the moment, other startups like Roda Assistance, Pitstop, GoMechanic and IIT Delhi-backed iSAFE Assist competes with ReadyAssist.
