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: U74999DL2016PTC300195Active (per Tofler, checked as of 30 May 2026). This is the original 2016-incorporated legal entity behind the "GoMechanic" brand. Caution: a separate, later-incorporated entity, Service Easy Technology Private Limited (CIN U50400HR2021PTC097130, Gurgaon), is reported to be the entity that now operates the live gomechanic.in business and was 100%-acquired by Spinny (Valuedrive Technologies Pvt Ltd) for ~Rs 450 Cr (announced Dec 2025). No public source confirms a direct parent-subsidiary link between the two entities — treat Targetone Innovations' registry status as the shell/original entity, not necessarily reflective of current GoMechanic trading operations.RoC Delhi (source: Tofler, TheCompanyCheck)Confidence: medium
AI OverviewGenerated from public records
AI-generated summary from public filings and may contain errors. Verify against the detailed sections below.
Company Identity
Confirmed| Registered name | Targetone Innovations Private Limited |
|---|---|
| CIN | U74999DL2016PTC300195 |
| PAN | AAFCT7627N (source: Tofler; cross-checked — consistent with the AAFCT7627N segment embedded in the GSTINs found for this entity) |
| Status | Active (per Tofler, checked as of 30 May 2026). This is the original 2016-incorporated legal entity behind the "GoMechanic" brand. Caution: a separate, later-incorporated entity, Service Easy Technology Private Limited (CIN U50400HR2021PTC097130, Gurgaon), is reported to be the entity that now operates the live gomechanic.in business and was 100%-acquired by Spinny (Valuedrive Technologies Pvt Ltd) for ~Rs 450 Cr (announced Dec 2025). No public source confirms a direct parent-subsidiary link between the two entities — treat Targetone Innovations' registry status as the shell/original entity, not necessarily reflective of current GoMechanic trading operations. |
| Listing | Not listed (unlisted private limited company). No stock exchange listing found. |
| Incorporated | 23 May 2016 (source: Tofler, TheCompanyCheck — 2 sources agree) |
| ROC | RoC Delhi (source: Tofler, TheCompanyCheck) |
| Sector (NIC) | 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. |
| Registered address | Shop No 8, Ramesh Market, Dayanand Colony, Lajpat Nagar, New Delhi, Delhi – 110024 (source: Tofler, TheCompanyCheck — 2 sources agree) |
| Authorized capital | Rs 3.31 crore (source: Tofler, TheCompanyCheck — agree) |
| Paid-up capital | Rs 3.28 crore (source: Tofler, TheCompanyCheck — agree) |
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 (via Dec-2025 Spinny acquisition news) to sit under a different, later-incorporated entity, Service Easy Technology Private Limited — see status/related-party notes
Directors
ConfirmedPer 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 / 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 (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
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% (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
Charges / Loans
Confirmed- Confirmed via 2 sources (Tofler + TheCompanyCheck) for the largest/most recent charge: Rs 100 crore charge created 11-Jan-2023, 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)
- 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 (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
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 (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 (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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