Multinational tyre manufacturing company Apollo Tyres has shut down its doorstep car service initiative, Trumigo. Significantly, the platform has discontinued its services within six months of its launch.
As per sources, the company failed to find traction and compete with other alternatives available in the market
“Trumigo has laid off nearly 100 employees (including 75 ground staff) in the process. It did not provide severance pay to the entire ground staff and several full time employees,” said a source on the condition of anonymity.
Launched in February, Trumigo used to provide car maintenance services directly to a customer’s doorstep. Initially, it was launched for Gurugram with plans to expand to cover the entire Delhi (NCR) region.
Trumigo’s website isn’t working for a while, point out sources. It has also been throwing error messages for the past three days.
Several former employees also hinted at financial irregularities in the company which are currently being audited. Entrackr couldn’t verify these claims independently.
Queries sent to Trumigo’s chief executive, head of product, CHRO and Apollo Tyres’ group head did not elicit any response until the publication of the story. We’ll update the post as and when they respond.
Trumigo is the second company from the car servicing space to go down after GoMechanic which also had gone through a forensic audit. After establishment of financial irregularities and inflated revenue, several investors including Peak XV wrote off their investment in the firm. GoMechanic was eventually acquired by Lifelong Group’s Servizzy in a distress sale.
GoMechanic, which was once seeking a billion dollar valuation, recently raised $6 million from a group of investors at a valuation of $20 million.
