With this acquisition, ReadyAssist will achieve its vision to become India’s largest chain of multi brand 2 wheeler workshops and create a existing network of 8000+ roadside assistance (RSA) mechanics across the country..
Bangalore based leading technology backed roadside assistance startup, ReadyAssist has acquired SpeedForce for $10 million (₹80 crore) in a cash and stock deal. ReadyAssist acquired SpeedForce to setup 1000 two wheeler workshop chain.
Founded in 2018 by Vimal Singh SV, ReadyAssist is a 24/7 roadside assistance company by proactively addressing the real-time vehicle (card and bike) breakdown problems of customers using deep machine learning, data intelligence, and operations efficiency.
ReadyAssist is providing 24/7 real time break down and on spot repair service across 16650+ pin codes covering 700+ districts in India. They are known for offering on the spot repair services for cars and bikes. ReadyAssist offering services i.e. Battery jumpstart, Fuel delivery, Key unlock assistance, towing, Starting problem and flat tyre.
Powered by a deep tech platform and driven by a Pan India network of more than 5000+ skilled and groomed mechanics, they ensure reliability & quality. ReadyAssist serves both business-to-business (B2B) and business-to-consumer (B2C) segments.
Vadodara based two-wheeler service provider SpeedForce, started by Kapil Bhindi, Deepen Barai and Ashok M Shah in 2012. SpeedForce provide innovative repair and maintenance services for any two-wheelers. With their wide range of trustworthy services like pick up and drop facility, on-road breakdown support, insurance support, Annual Maintenance Contracts, warranty program on spare parts, and lubricants they are bringing a revolution in servicing of two-wheelers. With well-equipped two-wheeler service stations and skillful mechanics, they provide quality services with excellent packages that are intended to offer great maintenance and saving.
With this acquisition, ReadyAssist will become a multi-brand two wheeler workshop and will further strengthen its existing network of 8000+ skilled roadside mechanics across the country, said Vimal Singh, CEO, ReadyAssist. Today Ready Assist is very successful in operating PAN India Road Side Assistance and Door step service for its 800000 subscribed customers.
In addition, Speed Force's existing network is expected to accelerate the growth plans of Ready Assist for Road Side Solutions and Workshop Network, positioning them as a market leader. With this merger ReadyAssist is expected to realize its goal of becoming a one stop solution for all authorized beauty needs through its super App which is slated to be available on Play Store and App Store in a few months.
Vimal Singh told that by this year we aim to employ 3500 mechanics with 1000 workshops and serve 10000+ customers a day. Ready Assist plans to strengthen its chain by adding 700 two wheeler workshops and 72 four wheeler workshops and Speed Force workshops this year and will take the chain to a total of 1000 workshops by the end of March 2024. ReadyAssist will be an expansion of its already existing partner workshops
All new workshops will be equipped with all capabilities of EV vehicle service Workforce and ReadyAssist's flagship training program Academy designed for real-time reskilling and upskilling of enrolled mechanics
Prior to this acquisition, ReadyAssist raised $5 million in a pre-Series A funding round in November 2022 led by Howen International Fund, SPC.