TVS Automobile Solutions Pvt Ltd, an automotive aftermarket player, has launched its new subsidiary -- Ki Mobility Solution -- an online to offline digital platform, as part of the company's aggressive growth strategy.
The online platform would offer quality, standardised and cost-effective service to owners of two-wheelers, passenger cars and commercial vehicles across the country.
Ki Mobility Solutions would raise funds to the tune of Rs 85 crore from Pratithi Investment Trust represented by trustee and Infosys co-founder Kris Gopalakrishnan and SeaLink Capital Partners (SCP).
The digital platform would give automobile entrepreneurs an opportunity to increase business, gain access to high- quality parts with better margins, link with a large pool of suppliers, among others.
"Launching Ki Mobility is a milestone moment in the Indian Automotive Aftermarket industry and equally a logical next step of our technology investments so far," TVS Automobile Solutions, director, R Dinesh said in a company statement.
"We will fully leverage the cutting edge technology solutions and create a digital ecosystem for over 20,000 entrepreneurs to enhance their future relevance," he said.
TVS Automobile Solutions said it acquired business of consumer service aggregator goBumpr making it as a one-stop- shop for all service related requirements to automobile owners.
Following the recent acquisition of Mahindra First Choice, TVS Automobile Solutions said it successfully rebranded MFC network into 'myTVS' thereby creating one of the largest multi-brand service networks across 270 towns in the country.
"We are delighted to have technology focused investors led by Kris Gopalakrishnan's Pratithi Investment Trust in our journey to make industry stakeholders more digitally-enabled and future ready", Dinesh said.Ki Mobility would provide quality, transparent and cost effective service solutions to vehicle owners with the convenience of thousands of organised multi-brand owners in 270 towns across the country, TVS Automobile Solutions, managing director, G Srinivasa Raghavan said.