TVS Automobile Solutions invests Rs75 crore in 3 start-ups
Chennai: TVS Automobile Solutions Ltd (TVS ASL) on Thursday said it has invested Rs.75 crore in three start-ups.
The investments have been made in Jazzmyride.com, which deals with auto parts and accessories; Autosense (a venture by Hansa Cequity) that provides technology and analytics based customer management services, and Redsun Telematics, an Internet of Things start-up that develops business solutions like connected cars.
TVS ASL, part of the TVS group, focuses on the automobile aftermarket business and aims at providing technology based global delivery model to help manufacturers connect with customers, garages and retailers directly.
TVS ASL expects these businesses to generate revenue ofRs.250 crore in next three years.
“TVS ASL is uniquely positioned in providing both digital technology solutions and brick and mortar infrastructure in addressing the needs of manufacturers. Digital technologies help in enabling transparency in supply chain, visibility of consumption and therefore help them customize products and services towards market needs,” said G. Srinivasa Raghavan, executive director, TVS Automobile Solutions Ltd.