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.
CIN: U74999DL2016PTC300195ActiveRoC DelhiConfidence: medium
Last updated 4 August 2026
AI OverviewGenerated from public records
AI-generated summary from public filings and may contain errors. Verify against the detailed sections below.
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Company Identity
Confirmed| Registered name | Targetone Innovations Private Limited |
|---|---|
| CIN | U74999DL2016PTC300195 |
| PAN | AAFCT7627N |
| Status |
|
| Listing |
|
| Incorporated | 23 May 2016 |
| ROC | RoC Delhi |
| Sector (NIC) |
|
| Registered address | Shop No 8, Ramesh Market, Dayanand Colony, Lajpat Nagar, New Delhi, Delhi – 110024 |
| Authorized capital | Rs 3.31 crore |
| Paid-up capital | Rs 3.28 crore |
Business Overview
Confirmed- 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 to sit under a different, later-incorporated entity, Service Easy Technology Private Limited — see status/related-party notes
Directors
Confirmed| Name | DIN | Role | Appointed |
|---|---|---|---|
| Kushal Shailesh Karwa | 07188125 | - | 23-May-2016 |
| Amit Bhasin | 07188078 | - | 23-May-2016 |
| Rishabh Shailesh Karwa | 09202620 | - | 14-Jun-2021 |
| Nitin Rana | 07624297 | - | 14-Jun-2021 |
GST Registrations
Partial / conflicting| GSTIN | State | PAN | Status |
|---|---|---|---|
| 27AAFCT7627N1ZO | Maharashtra | AAFCT7627N (source: Tofler; cross-checked — consistent with the AAFCT7627N segment embedded in the GSTINs found for this entity) | - |
| 06AAFCT7627N1ZS | Haryana | AAFCT7627N (source: Tofler; cross-checked — consistent with the AAFCT7627N segment embedded in the GSTINs found for this entity) | - |
| 24AAFCT7627N1ZU | Gujarat | AAFCT7627N (source: Tofler; cross-checked — consistent with the AAFCT7627N segment embedded in the GSTINs found for this entity) | - |
| 03AAFCT7627N1C9 | Punjab | AAFCT7627N (source: Tofler; cross-checked — consistent with the AAFCT7627N segment embedded in the GSTINs found for this entity) | - |
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
Partial / conflicting- FY ended March 2023: Revenue Rs 309.79 crore
- EBITDA: not obtained (locked/paywalled)
- PAT/Net profit: not obtained (locked/paywalled)
- Net worth: declined -76.39% YoY. 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
- 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
Partial / conflicting- 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%
- 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. No priced round after 2021 was confirmed from a second source
Charges / Loans
Confirmed- Rs 100 crore charge created 11-Jan-2023, open/unsatisfied — Tofler names the charge holder as Axis Trustee Services Limited
- TheCompanyCheck additionally lists a fuller charge history: 11-Jan-2023 Rs 75 Cr (satisfied)
- 18-Jun-2022 HSBC Rs 5.38 Cr (satisfied) and Rs 9.5 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
Legal (Indian Kanoon)
Confirmed- 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 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
Competitors
Partial / conflicting- 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 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 (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.
What is the CIN of Targetone Innovations Private Limited?
The Corporate Identification Number (CIN) of Targetone Innovations Private Limited is U74999DL2016PTC300195.
Where is Targetone Innovations Private Limited registered?
Targetone Innovations Private Limited is registered with RoC Delhi (source: Tofler, TheCompanyCheck). Registered address: Shop No 8, Ramesh Market, Dayanand Colony, Lajpat Nagar, New Delhi, Delhi – 110024 (source: Tofler, TheCompanyCheck — 2 sources agree).
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