Tiger Global, the US investment fund that made a string of big bets on Indian startups in a span of a few weeks, is looking to write another large cheque soon for GoMechanic, a Gurugram-based vehicle service and repair startup, said two people aware of the development.
The American investment firm is in discussions to invest up to $100 million in GoMechanic, at a likely valuation of as much as $500 million, they said on condition of anonymity.
An email sent to Tiger Global did not elicit a response, while messages sent to a spokesperson for GoMechanic too remained unanswered.
Founded by Kushal Karwa, Amit Bhasin, Rishabh Karwa and Nitin Rana, GoMechanic is a network of tech-enabled car service centres.
The startup claims to have more than 500 service partners on its platform and over 10,000 car services a month, according to its website.
Tiger Global, known for its big Flipkart bet, has made several major bets in Indian startups in just three months, in the process creating almost half of dozen unicorns or startups valued at over a billion dollars.
Earlier this month, it led a $500 million round in Sharechat, valuing it at over $2 billion.
This article was first published on livemint.com.