Ratnashil Online Services Pvt Ltd, the parent company of automotive technology platform Smart Garage, has announced an Employee Stock Ownership Plan (ESOP) worth approximately ₹5 crore, reinforcing its commitment to building an ownership-driven culture as it prepares for its next phase of expansion.
The ESOP programme is aimed at rewarding eligible employees for their contributions in developing the company’s technology platform, products and business while aligning them with Smart Garage’s long-term growth strategy.
Backed by fresh funding
The announcement comes shortly after Smart Garage raised ₹2.4 crore in its Pre-Series A funding round at a valuation of ₹100 crore, marking its first institutional investment.
Before raising external capital, the company grew through a bootstrapped model, recording around 70% year-on-year growth driven by product innovation, operational excellence and increasing customer adoption.
Building on this momentum, Smart Garage is now targeting 10x growth by expanding its technology platform, enterprise partnerships and market presence.
Infrastructure is key
Smart Garage Founder & CEO Pawan Singh Raghuvanshi said, “The next decade of India’s automotive industry will not be defined only by vehicles; it will be defined by the infrastructure that powers repairs, insurance, spare parts, workforce and technology. At Smart Garage, we are building that infrastructure.”
He added that the ESOP reflects the company’s belief that employees who help create value should also share in it.
“Every milestone in our journey has been made possible by the people who believed in our vision and worked relentlessly to turn that vision into reality. As we continue to scale, our focus remains on building an organisation driven by ownership, innovation and long-term thinking,” Raghuvanshi said.
Building a connected automotive ecosystem
Smart Garage is focused on digitising India’s fragmented automotive aftermarket by creating an integrated technology platform connecting insurers, workshops, distributors, retailers, fleet operators and vehicle owners.
Its offerings include AI-powered vehicle inspections and claims automation, intelligent workshop management solutions and a B2B platform for genuine spare parts procurement.
The company said its objective is to build the digital infrastructure that enables stakeholders across the repair and insurance ecosystem to operate on a shared, real-time technology platform.
As part of its next phase of expansion, Smart Garage plans to strengthen its artificial intelligence capabilities, enterprise solutions and broader technology ecosystem while pursuing its vision of becoming India’s leading automotive infrastructure company.