Tiger Global to put resources into GoMechanic; SoftBank to lead Whatfix financing

US-based Tiger Global Management is intending to contribute up to $100 million (Rs 747 crore) in vehicle administration and fix startup GoMechanic, two individuals told Mint.

The speculation may esteem the organization at up to $500 million (Rs 3,735 crore), they said.

Last June, the startup raised an undisclosed aggregate from Pawan Munjal, executive and overseeing overseer of Hero MotoCorp. The organization brought Rs 105 crore up in December 2019, the round drove by existing financial backers Chiratae Ventures and Sequoia Capital.

Gurugram-based GoMechanic was established by Kushal Karwa, Amit Bhasin, Rishabh Karwa and Nitin Rana.

Whatfix, a product as-a-administration (SaaS) startup, may raise up to $90 million (Rs 672 crore) in its Series D round drove by SoftBank Vision Fund II at a valuation of up to $550 million (Rs 4,110 crore), two individuals told Mint.

Existing financial backers including Sequoia Capital are required to take an interest in the round, individuals added.

Bengaluru-based Whatfix brought $32 million up in its Series C round drove by Sequoia in February a year ago at a post-cash valuation of $150 million.