ReadyAssist Raises $5 Million In Pre-Series A Funding

The fund will be used to further enhance the service network to bring in speed and availability through technology across every nook and corner of India

By
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Bengaluru-based roadside assistance startup ReadyAssist has raised $5 million as part of their on-going pre-Series A funding round led by Howen International Fund, SPC. The fund raised will be deployed to enhance the service network further to bring in speed and availability through technology across every nook and corner of India.

Company handout

"ReadyAssist has always been driven to ensure 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. Thanks to all our investors or service providers or customers for their faith in us and for helping us in making Indian roads safer to drive on. We now keenly welcome Howen to ReadyAssist, and look forward to partnering with them on the exciting road ahead," said Vimal Singh SV, founder and CEO of ReadyAssist.

ReadyAssist has been predominantly working with large B2B partners and has a base of more than 600,000 active subscribed customers, with 50 per cent of them being cars and 10 per cent EVs, claimed by the company in a statement.

"We are very confident that ReadyAssist, with its product fitment and scalable business model, is in a unique position to capture the huge TAM for road-side assistance and ancillary services in India and will be very soon the market leader in this space, backed by a marquee customer base and their growth capital contributors or investor. We are excited to move this collaboration forward and be the partner that would support ReadyAssist scale across geographies," said Vishal Rana, Director of Howen International.