In a pre-Series A financing, ReadyAssist raises $5 million with the help of Howen International Fund SPC.
- ByStartupStory | November 16, 2022
The roadside assistance start-up ReadyAssist, based in Bengaluru, has raised $5 million as part of a pre-Series A round that is currently being managed by Howen International Fund, SPC. According to a statement, the money is consistent with the company’s expansion ambitions and vision to offer car owners across India a 24/7, worry-free driving experience through its network of trained service providers connected through technology.
Although ReadyAssist has primarily collaborated with sizable B2B partners, the funds raised will now be used to expand direct customers’ access to roadside assistance through its B2C subscription model. More than 600,000 active subscribers already use ReadyAssist’s services, with 10% of them driving electric vehicles and 50% of them being autos.
The funds will also be used to expand the service network, bringing technology-enabled speed and availability to every corner of India. In the first phase, ReadyAssist has chosen the top 50 cities in India for the development and fostering of EV mechanic skill sets.
“ReadyAssist has always been driven to ensure the maximum availability of our services to every customer in the country, even during the most difficult days. 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. Supporting the Indian EV ecosystem and adding speed to our services will be our special focus,” said ReadyAssist’s founder and CEO, Vimal Singh SV.
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