About Mechanify
Mechanify is a Transportation, Automotive & Logistics company based in Gurugram (India) founded in 2019 by Ujjwal Seth and Viren Thakur. Pre-owned electric vehicles are listed and sold online. Mechanify has raised $381.08 thousand across 4 funding rounds from investors including Zypp Electric, India Accelerator and Corporate Warranties. The company has 1 employees. Mechanify was last valued at $4.39 million in July 2023. Its Indian entity Mechanify Services Private Limited reported revenue of ₹71.9 Lakh. Its focus areas include Consumer, Auto E-Commerce & Content, Second Hand Vehicles and Multi Category. Its competitors include GoMechanic, MyTVS and GoBumpr; 3 of its 3 listed competitors have raised funding.
Company details
Mechanify was founded in 2019 in Gurugram, India, as an online platform focused on the used electric vehicle sector. Pre-owned EVs, including two-wheelers and cargo models, are repurposed, revitalized, and listed for sale. Solutions for purchasing and managing these vehicles are offered, with filtering options based on brand, price, and other criteria to support transactions.
- Headquarters Gurugram, India
- Employees 1
- Founders Ujjwal Seth, Viren Thakur
- Stage Minicorn
- SectorsTransportation, Automotive & Logistics
- Email••••••••
- Phone•••• ••••
- Website mechanify.in
- Social LinkedIn
- Legal Name Mechanify Services Private Limited
- Date of Incorporation 14 Mar, 2020
- Jurisdiction Delhi, India
- Annual Revenue₹71.9 Lakh
FY 2024 · +331% YoY
- Net Loss-₹1.19 Cr
FY 2024 · -165% margin
- EBITDA-₹1.15 Cr
FY 2024 · -160% margin
- Total Equity Funding$381.08K (USD)
in 4 rounds
- Latest Funding Round$158.63K (USD), Seed
Jul 2023
- InvestorsZypp Electric
& 18 more
- Employee Count1
Associated legal entities of Mechanify
Mechanify is associated with 2 registered companies on The Company Check; the primary company is Mechanify Services Private Limited. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Mechanify Services Private Limited CIN U45102DL2020PTC362761 | Active | 14 Mar 2020 | Delhi, Delhi | ₹0.7 Cr | 2 | View details | |
| Mechanify Services Private Limited CIN U93090DL2020PTC362761 | 14 Mar 2020 | Delhi, India | View details |
Funding Insights of Mechanify
Mechanify has successfully raised a total of $381.08K across 4 strategic funding rounds. The most recent funding activity was a Seed round of $158.63 thousand completed in July 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $381,083
- Total Rounds 4
- Last Round Seed — $158,630
- Investors Count 19
All 4 funding rounds of Mechanify with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul 2023 | $158,630 | Seed | $4.39M | – | |
| May 2022 | $182,959 | Seed | $2.15M | – | |
| Aug 2021 | $39,494 | Angel Round | $••••• | Kavita | |
| Jun 2020 | Seed | – | – |
| Date | Valuation | Stage |
|---|---|---|
| Jul 2023 | $4.39M | •••••••• |
| May 2022 | $2.15M | •••••••• |
Last known valuation $4.39M (Jul 2023). 19 investors in total: 4 institutional and 15 angel.
Investors in Mechanify
Mechanify has secured backing from 19 investors, including institutional, angel, and venture fund investors. Prominent investors backing the company include Zypp Electric, India Accelerator and Corporate Warranties.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Startup acceleration, funding, and mentorship services are delivered by India Accelerator. | 2017 | indiaaccelerator.co | Gurugram, India | |
Diversified conglomerate operating in energy storage and power electronics | sar-group.com | Gurugram, India | ||
Electric vehicles are supplied for last-mile delivery and rental needs. | 2017 | zypp.app | Gurugram, India | |
VG Vivek Gandhi | Angel investor and entrepreneur, co-founder of Wheelseye, focused on logistics tech | unknown_b6c93c4fc3e54063b | ||
HM Harish Menon | unknown_f71a1f38ffca48a68 | |||
SI Suresh Iyer | unknown_807445dc6ff0471f8 | |||
AR Anshuman Ranjan | unknown_b21a7b150a0b47488 | |||
MM Manvi Mehra | unknown_35604e3b24f147589 | |||
HM Harish Menon | unknown_39c447353eef4fee8 | |||
NU Nirmal Upreti | unknown_42c11a7b8f444d01a |
Investor details for Mechanify
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Verified entity values are shown only after access is granted.
Board of directors of Mechanify Services Private Limited (Mechanify)
Mechanify Services Private Limited is the primary company behind Mechanify. The board of Mechanify Services Private Limited currently have 2 directors; the longest-serving is Viren Thakur, appointed in 2020.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Viren Thakur DIN 08723070 | Director | 14 Mar 2020 | 6 yrs 7 mo | Mechanify Services Private Limited |
| Ujjwal Seth DIN 08723071 | Director | 14 Mar 2020 | 6 yrs 7 mo | Mechanify Services Private Limited |
People of Mechanify
2 people are tracked at Mechanify (2 in leadership); the tracked headcount is 1.
| Name | Role | Group |
|---|---|---|
| Co-Founder & COO | Leadership | |
| Co-Founder | Leadership |
Complete people profiles for Mechanify
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Verified entity values are shown only after access is granted.
Financials of Mechanify
Figures of Mechanify Services Private Limited, the primary company behind Mechanify, for FY 2024. Revenue was ₹71.9 Lakh (+331% year on year). Net loss was -₹1.19 Cr (-165% margin). EBITDA was -₹1.15 Cr (-160% margin). Revenue has grown at a compounded annual rate of +622% over three years.
- ₹71.9 LakhRevenue · FY 2024 · +331% YoY
- -₹1.19 CrNet loss · -165% margin
- -₹1.15 CrEBITDA · -160% margin
- ₹1.2 LakhPaid-up capital
- +622%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Mechanify Services Private Limited are on its company page.
Detailed financial statements for Mechanify
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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- Downloads
Verified entity values are shown only after access is granted.
Timeline of Mechanify
4 dated milestones of Mechanify across 4 years, from founding to its latest funding, stage changes and deals.
- Founded Mechanify is founded.
- Funding First funding round.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Seed, of $159K.
Competitors of Mechanify
Mechanify has 3 listed competitors in our database, 3 of them funded. They include GoMechanic, MyTVS and GoBumpr.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| gomechanic.in | 2016 | Gurugram, India | $62.01M | 171 | Provider of car service and repair network | |
| mytvs.in | 2003 | Chennai, India | $223.22M | 1,292 | Online platform for booking automotive repair and maintenance services | |
| gobumpr.com | 2015 | Chennai, India | $2.66M | 1,051 | App-based garage aggregation for auto repair and maintenance is offered. |
Detailed competitors of Mechanify
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Top companies in Automotive Retail & Aftersales
3 companies that operate in the same segment as Mechanify (Automotive Retail & Aftersales) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
General and life insurance products are provided across multiple categories. | 2016 | Bengaluru, Karnataka, India | USD 462.45 M | USD 1.12 B | 4,589 | |
Insurance products for vehicles, health, travel, and life are offered. | 2016 | Bengaluru, Karnataka, India | USD 746.17 M | USD 216.04 M | 1,306 | |
Retailer of inspected, certified pre-owned vehicles with service and finance options | 2015 | Gurugram, Haryana, India | USD 741.46 M | USD 446.48 M | 5,812 |
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Related news about Mechanify
Complete news archive for Mechanify
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Frequently Asked Questions about Mechanify
Mechanify was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Mechanify is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Mechanify is a funded company, having raised a total of $381.08K across 4 funding rounds to date.
Mechanify has 1 employees.
The primary company behind Mechanify, Mechanify Services Private Limited, reported revenue of ₹71.9 Lakh for FY 2024, up 331% year on year.
Mechanify was founded in 2019 in Gurugram, India, as an online platform focused on the used electric vehicle sector. Pre-owned EVs, including two-wheelers and cargo models, are repurposed, revitalized, and listed for sale. Solutions for purchasing and managing these vehicles are offered, with filtering options based on brand, price, and other criteria to support transactions.
Mechanify's top competitors include GoMechanic, MyTVS and GoBumpr.
Mechanify has 19 investors. Key investors include Zypp Electric, India Accelerator, Corporate Warranties, SAR Group, and Vivek Gandhi.
The valuation of Mechanify is $4.39M as of Jul 2023.
Mechanify operates through Mechanify Services Private Limited.
The legal entities of Mechanify currently have 2 directors, including Viren Thakur, Ujjwal Seth.