Smart Garage Introduces ₹5 Crore ESOP Pool, Reinforcing Employee-First Growth Strategy
- ByStartupStory | July 13, 2026
Faridabad, India | July 2026
Ratnashil Online Services Private Limited, the parent company of Smart Garage, today announced an Employee Stock Ownership Plan (ESOP) worth approximately ₹5 Crore for eligible employees. The initiative recognizes the dedication, innovation, and contributions of the team that has played a key role in building Smart Garage’s technology, products, and business, while reinforcing the company’s long-term commitment to fostering an ownership-driven culture.
The announcement comes at an important phase in Smart Garage’s growth journey. The company recently raised ₹2.4 Crore in its Pre-Series A funding round at 100 Crore valuation, marking its first institutional investment. Before bringing in external capital, Smart Garage grew through a disciplined, bootstrapped approach. They employ approximately seventy percent year-on-year growth through product innovation, operational excellence, and increasing customer adoption. Building on this momentum, the company is now targeting 10x growth as it scales its technology platform, enterprise partnerships, and market presence.
Commenting on the announcement, Pawan Singh Raghuvanshi, Founder & CEO of Smart Garage, said: “The next decade of India’s automotive industry will not be defined only by vehicles it will be defined by the infrastructure that powers repairs, insurance, spare parts, workforce and technology. At Smart Garage, we are building that infrastructure. Our ESOP reflects a simple belief: everyone helping build this platform should participate in the value it creates.”
He added, “Every milestone in our journey has been made possible by the people who believed in our vision and worked relentlessly to turn that vision into reality. As we continue to scale, our focus remains on building an organization driven by ownership, innovation, and long-term thinking because great companies are built by people who think like entrepreneurs and grow together with the organization.”
With its next phase of expansion underway, Smart Garage continues to strengthen its AI capabilities, enterprise solutions, and technology ecosystem while advancing its long-term vision of becoming India’s leading automotive infrastructure company.
India’s automotive aftermarket remains one of the world’s largest yet most fragmented industries. Smart Garage is building the technology and operating infrastructure that connects insurers, workshops, distributors, retailers, fleet operators and vehicle owners into a single intelligent ecosystem spanning AI-powered vehicle inspections and claims automation (Insurance Tech), intelligent workshop management (Garage Tech), and a B2B commerce platform for genuine spare parts procurement. Rather than solving one problem in isolation, the company is building the digital backbone for the industry, the connective layer that enables every stakeholder in the repair and insurance value chain to operate on shared, real-time infrastructure.
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