Tiger in talks to invest in GoMechanic

Tiger Global is reportedly in talks to lead a new financing round in Gurugram-headquartered online car servicing start-up GoMechanic. The proposed deal values the company at $1.2 billion - up from $325 million the platform was valued in Series C round in June last year. According to the report, the size of the proposed round is between $50 million to $80 million.

Founded in 2016, GoMechanic has a network of over 900 workshops in over 60 cities in India, Europe, UK, and the MENA region. It has serviced over 800,000 cars, and as of December last year, the annual gross sales stood at over $166 million and its annual net revenue had exceeded $50 million, according to the company.