TVS Automobile Solutions Ltd. has funded 3 Start-Ups amounting 75 crores INR, here on Thursday. The start ups include Jazzmyride.com, which consists of dealing in auto parts and its accessories; Autosense, whichprovides technology and analytics-based customer management services and nonetheless Redsun Telematics an internet based company which develops business solutions like Connecting Cars.
The India-based conglomerate focuses aftermarket automobile business subsequently aiming at providing technology-oriented global delivery models to help manufacturers connect with its customers, pinpointers, as well as retailers, worldwide basis. The Big Data, Analytics, CRM and Internet on Things procured startups will form an ecosystem for its digital initiatives thus contributing to customer satisfaction as well as higher market shares. The 3 new companies are likely to generate revenue of 250 crores INR in the $9.5 billion aftermarket space.
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According to G Srinivasa Raghavan, Executive Director, TVS (ASL),We are investing around Rs 75 crore from internal accruals. We are expecting these businesses to generate a revenue of Rs 250 crore in the first three years. There is a lot of potential for the digital solutions in the $9.5 billion after market space.
It has taken over the Redsun Consulting along with Hansa Equity joint venture Autosense owing almost 49% stakes so as tooffer technology and analytics-based customer management services. The other or third company based on a digital platform that might bring development closer towards the clients with the help of real-time visibility in the performance of verified vehicles. However, the respective technology oriented service providers will begin within two months thus, in talks with some of the Original Equipment Manufacturers’ to implement all this.
Officials from TVS ASL gave a statement as “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 the supply chain, visibility of consumption and therefore assist them to customize products and services towards market demand.”
Customer satisfaction has levelled up with around 3,00,000 end-users, asking for parts and accessories for passenger vehicles, two-wheelers and commercial vehicles.It offers more than 100,000 products across 150 categories and more than 52 brands.