India Deal Monitor: Group Landmark backs Pitstop and more updates

Doorstep car service provider Pitstop has raised $2.5 million in a Series A funding round led by TPG backed-Group Landmark.

Existing investors also participated in the round, Pitstop said in a statement.

The startup will use the funds to expand its services to 15 more cities by this year. Besides, Pitstop is planning to onboard over 1,000 garages and more than 1,500 service vans by 2021, the statement added.

Pitstop currently claims to cater to over 1 lakh customers in Bengaluru, Delhi, Pune, Hyderabad, Chennai, Noida, Gurugram, and Faridabad.

“There is a great deal of learning from Group Landmark as we set up our network of hyper-local garages and fleet of doorstep vans to take Pitstop to the next one lakh customers,” Pitstop founder and Chief Executive Officer Mihir Mohan said.

The company will be using these funds to expand its garage and doorstep service network and build an integrated retail supply chain network for the spares business, he added.

INDIA DEAL MONITOR

Here are some prominent venture capital transactions in India for March 14-March 16.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
PitstopBengaluru2.5 millionSeries AGroup Landmark-Consumer Services
ZunRoofGurugram3 millionSeries AGodrej Investment Office-SolarTech
Shop101Mumbai3.9 millionSeries cStellaris Venture Partners, Unilever Ventures, Kalaari Capital, and Vy Capital.-E-Commerce
StanPlusHyderabad1.5 millionPre-Series APegasus FinInvestHyderabad AngelsHealthcare

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.