Roadside assistance startup, ReadyAssist has raised $5 million (Rs 40.56 crore) in the ongoing Pre-Series A round led by Howen International Fund, SPC. The capital raised will be used to enhance accessibility to assistance on roads to direct consumers through the B2C subscription model.
Though ReadyAssist has been predominantly working with large B2B partners, the company is now expanding its focus on the B2C side as well. The funds will be deployed to enhance the service network further.
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.
Speaking on the latest round of funding, Vimal Singh SV, Founder & CEO of ReadyAssist said, “This funding will definitely 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. We now keenly welcome Howen to ReadyAssist, and look forward to partnering with them on the exciting road ahead”.
Vishal Rana, Director of Howen International and a key investor in the recent round added “We are excited to move this collaboration forward and be the partner that would support ReadyAssist scale across geographies”.
The round of investment was advised by bollywood celebrityVivek Oberoi and Greenback Capital, a financial advisory and investment banking firm set up in Dubai International Financial Centre (DIFC), Dubai.
ReadyAssist is a 24/7 on the spot repairs and service provider for both bikes & cars for all kind of problems starting from flat tyre repairs, battery jumpstart, electrical issues, mechanical issues and towing service. It already has a base of more than 600,000 active subscribed customers, with 50 percent of them being cars and 10 percent EVs.
