Friday, 24 March, 2023

SoftBank Group plans to invest $35M in India's GoMechanic

<p>GoMechanic, an Indian auto care and repair company, is in talks with SoftBank Group to invest $35M. Early-stage discussions between Vision Fund and GoMechanic centre on a valuation of $600-700M. SoftBank and GoMechanic have been in talks for more than nine months, and at first, the Indian company&#39;s demand for a $1B value made SoftBank uneasy. GoMechanic was valued at $300M a year ago and presently generates about $40M in gross annual sales.</p>