COMPANY INTELLIGENCE PROFILE
Targetone Innovations Private Limited
Targetone Innovations Private Limited is the original (2016-incorporated) Delhi-registered legal entity behind GoMechanic, India's multi-brand car servicing and repair platform — though the live GoMechanic business is now reported to run through a separate entity, Service Easy Technology Pvt Ltd, acquired by Spinny in Dec 2025.
Targetone Innovations Private Limited, incorporated in 2016, is the original legal entity behind the GoMechanic brand, a multi-brand car servicing and repair platform in India. Despite the current GoMechanic operations being conducted by a separate entity, Targetone remains active. The company's significant past funding includes a $42 million Series C round in 2021. Challenges arose in 2023 with financial irregularities leading to a valuation drop and halted SoftBank investment. It reported Rs 309.79 crore revenue for FY March 2023.
AI-generated, may contain errors.
Business Overview
- Targetone Innovations Private Limited is the original operating/legal entity, incorporated 23 May 2016, behind "GoMechanic," an India-based multi-brand car servicing and repair aggregator platform.
- It ran a network of workshops offering scheduled servicing, AC repair, denting/painting, tyre and battery replacement, detailing, windshield replacement and insurance-claim assistance, with doorstep pickup/drop, positioned ~40% cheaper than authorized dealerships.
- Company email on file: info@gomechanic.in.
- Associated brands per registry aggregators: GoMechanic, GoMechanic Spares, and Smart Parts Exports, auto-parts export arm.
- Company email/associated branding source: TheCompanyCheck, Tofler.
- Note: the current live gomechanic.in consumer business/site is reported, via Dec-2025 Spinny acquisition news, to sit under a different, later-incorporated entity, Service Easy Technology Private Limited — see status/related-party notes.
Sector & Classification
NIC 99871490 – "Services incidental to land, water & air transportation" (Tofler classification code). TheCompanyCheck separately buckets it under "Automotive – Auto Parts & Components / Transport & Storage." Business classification: Business Services / Automotive services aggregator.
Directors & Key Management
Directors — source notes
Per Tofler (DINs listed) — 4 directors: (1) Kushal Shailesh Karwa, DIN 07188125, director/shareholder since incorporation (23-May-2016), co-founder; (2) Amit Bhasin, DIN 07188078, director/shareholder since incorporation (23-May-2016), co-founder — publicly admitted to financial misreporting in the 2023 GoMechanic scandal (media reports); (3) Rishabh Shailesh Karwa, DIN 09202620, appointed 14-Jun-2021; (4) Nitin Rana, DIN 07624297, appointed 14-Jun-2021. Confirmed via 2 sources (Tofler with DINs; TheCompanyCheck with names/appointment dates, no DINs) agreeing on names and dates.
GST Registrations
Partial/single-source-cluster confidence (aggregator search results, not individually opened on knowyourgst.com per-GSTIN pages, so treat as partial): 27AAFCT7627N1ZO (Maharashtra, registered 13-Feb-2018); 06AAFCT7627N1ZS (Haryana); 24AAFCT7627N1ZU (Gujarat); 03AAFCT7627N1C9 (Punjab, registered as Tax Collector/E-Commerce Operator since 01-Sep-2021) — indicating GoMechanic ran GST registrations in multiple states consistent with a multi-city workshop network. PAN embedded (AAFCT7627N) matches the PAN reported by Tofler for this CIN — good cross-check. Primary/home-state (Delhi) GSTIN and total registration count and current status of each GSTIN: not obtained (locked/not individually verified). Do not attribute any GSTIN belonging to Service Easy Technology Private Limited (the separate GoMechanic-operating entity acquired by Spinny) to this CIN — none was found, but flagging per entity-confusion caution.
Financials
Targetone Innovations Private Limited reported FY 2023 revenue of Rs 309.79 crore, reflecting approximately 220% growth. However, net worth declined by 76.39% and total assets decreased by 81.35%. Borrowings reportedly decreased 100%. The company employs 551 personnel.
AI-generated, may contain errors.
| FY ended March | 2023, per Tofler / TheCompanyCheck, both MCA-filing-derived aggregator data — treat as one data lineage, partial since key P&L lines are paywalled: Revenue Rs 309.79 crore, TheCompanyCheck states ~220% YoY growth; Tofler states total revenue growth of 219.97%, revenue banded Rs 300-400 Cr. |
| EBITDA | not obtained, locked/paywalled. |
| PAT/Net profit | not obtained, locked/paywalled. |
| Net worth | declined -76.39% YoY, absolute figure not obtained. |
| Borrowings | reported as "decreased 100%" YoY per Tofler, interpretation unclear — possibly fully repaid/reclassified; not independently corroborated. |
| Total assets | down 81.35% YoY per Tofler. |
| Employees (EPFO-linked) | 551, TheCompanyCheck. |
| Basis, standalone vs consolidated | not specified by either source |
| Presumed standalone MCA filing. No later FY (FY24/FY25) filings were found in the sources checked. | |
Funding History
| Historical/pre-scandal funding, media aggregation, not tied to a specific FY filing: ~$62 million raised across four rounds | |
| Series C in June | 2021 was $42 million led by Tiger Global at a reported $285 million valuation. |
| Reported cap-table stakes at that time | Sequoia Capital ~26.89%, Orios Venture Partners ~17.1%, Tiger Global ~10.03%, source: aggregated news/Tracxn-style summaries — used here only for round size/name/valuation context per sourcing rules, not as a primary financial figure. |
| Following the | 2023 fraud scandal, a planned SoftBank round collapsed after EY due-diligence flagged irregularities |
| One source cites GoMechanic's "last known valuation" falling to ~$30M, Tracxn-attributed, unverified independently. No priced round after 2021 was confirmed from a second source. | |
Loans & Charges
| Charge holder | Amount | Details |
|---|---|---|
| most recent charge | Rs 100 crore | charge created 11-Jan-2023 |
| HSBC | Rs 5 | |
| Cr (satisfied) and | Rs 9 |
- Confirmed via 2 sources, Tofler + TheCompanyCheck, for the largest/ open/unsatisfied — Tofler names the charge holder as Axis Trustee Services Limited, TheCompanyCheck labels the same date/amount charge-holder generically as "Others," consistent otherwise
- TheCompanyCheck additionally lists a fuller charge history: 11-Jan-2023 Rs 75 Cr (satisfied)
- 17-Nov-2021 Axis Bank Limited Rs 10 Cr (satisfied). Aggregate: total open charges ~Rs 100 Cr, total satisfied charges ~Rs 146.05 Cr.
Credit Ratings
- Not obtained. No CRISIL/ICRA/CARE rating for Targetone Innovations Private Limited was found in any source checked, consistent with a VC-funded private company without rated bank facilities of the disclosed type, aside from the bank charges noted above.
Legal & Compliance
- Indian Kanoon, Delhi High Court, confirmed: (1) Targetone Innovations Private Limited vs Quixote Automotive Technologies — ARB.P.
- 1450/2022, order dated 19-Dec-2022, Justice Yashwant Varma, arbitration petition. (2) Lepton Software Export and Research vs Targetone Innovations Pvt Ltd (GoMechanic) — order dated 14-May-2024, Justice Neena Bansal Krishna. (3) Lepton Software Export and Research vs Targetone Innovations Pvt Ltd (GoMechanic) — order dated 11-Jul-2024, Justice Jasmeet Singh, likely a subsequent order in the same/related matter as #2.
- Separately, widely reported, media, not court filings per the sources checked, 2023 financial-misreporting/fraud episode: founder Amit Bhasin admitted to "grave errors in judgment," including fictitious garages and inflated revenue/user metrics
- A planned SoftBank investment collapsed after EY due diligence surfaced the irregularities
- ICICI Bank reportedly froze company accounts
- ~70 staff were laid off amid the fallout.
Competitive Landscape
- Car-servicing/repair aggregator peers in India: (1) Pitstop — VC-funded multi-city car servicing startup, smaller scale than GoMechanic at peak
- (2) Mahindra First Choice Services — OEM-backed (Mahindra Group), India's largest organized multi-brand service network, larger scale
- (3) GoBumpr — early-stage vehicle repair/servicing aggregator, smaller scale
- (4) Servicemykar — regional multi-brand car service aggregator, smaller scale
- (5) Bosch Car Service (India network) — OEM-agnostic large service-center network, larger scale
- (6) Spinny, via its Dec-2025 acquisition of Service Easy Technology/GoMechanic, and Cars24 — larger used-car platforms now vertically integrating car-servicing, competing for the same after-sales wallet.
- Source: aggregated web search, Owler-style competitor listing
- Not independently verified per-competitor.
Frequently Asked Questions
What does Targetone Innovations Private Limited do?
Targetone Innovations Private Limited is the original legal entity behind GoMechanic, a multi-brand car servicing and repair platform in India, offering services such as scheduled servicing, AC repair, denting/painting, tyre and battery replacement, detailing, windshield replacement, and insurance-claim assistance.
What is the CIN of Targetone Innovations Private Limited?
The CIN of Targetone Innovations Private Limited is U74999DL2016PTC300195.
What is the GSTIN of Targetone Innovations Private Limited?
Targetone Innovations Private Limited has multiple GSTINs including 27AAFCT7627N1ZO for Maharashtra, registered on 13-Feb-2018; 06AAFCT7627N1ZS for Haryana; 24AAFCT7627N1ZU for Gujarat; and 03AAFCT7627N1C9 for Punjab, registered as a Tax Collector/E-Commerce Operator since 01-Sep-2021.
When was Targetone Innovations Private Limited incorporated?
Targetone Innovations Private Limited was incorporated on 23 May 2016.
Where is the registered office of Targetone Innovations Private Limited located?
The registered office of Targetone Innovations Private Limited is located at Shop No 8, Ramesh Market, Dayanand Colony, Lajpat Nagar, New Delhi, Delhi, 110024.
Sources
Tofler (tofler.in) — identity, PAN, directors+DINs, capital, charges, financial ratios. TheCompanyCheck (thecompanycheck.com) — identity, directors, financials, charges detail, related companies, brand/website association. Indian Kanoon (indiankanoon.org) — legal cases. gomechanic.in — business overview, logo, and discovery of the "Service Easy Technology Private Limited" legal-entity name in site footer/corporate info. DuckDuckGo HTML search aggregation — GSTIN cluster, funding history, Spinny/Service Easy Technology acquisition news, competitor list, credit-rating check (negative result). Google/Bing search were blocked/unusable in this session; WebSearch tool budget was exhausted for this session.
Information compiled from public registry and secondary sources. It may be incomplete or dated; verify independently before relying on it.