ReadyAssist, a Bangalore-based roadside assistance startup, has raised $5 million as part of its ongoing Series A pre-round led by Howen International Fund, SPC.
The financing is in line 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 qualified service providers connected through the technology, according to a statement.
While ReadyAssist has predominantly been 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 subscriber customers, of which 50% are automobiles and 10% electric vehicles.
The funds will also be deployed to further improve the service network to deliver speed and availability through technology to all nooks and corners of India. ReadyAssist selected the top 50 cities in India to develop and nurture EV skillsets in mechanics, during the first phase.
“ReadyAssist has always strived to ensure the maximum availability of our services for all customers across the country, even during the most difficult days. This funding will definitely help us add wings to our service and ensure that India will witness a 24/7 ReadyAssist roadside assistance across the country in the months and years to come. Our special focus will be to support the Indian EV ecosystem and add speed to our services,” said Vimal Singh SV, founder and CEO of ReadyAssist.