New Delhi: TVS Automobile Solutions (TVS ASL), an independent automotive aftermarket player, on Tuesday, announced the formation of a new digital subsidiary – Ki Mobility Solutions, a full-stack O-to-O (online-to-offline) digital platform that aims to offer quality, standardized and cost-effective service to vehicle owners of two-wheelers, passenger cars and commercial vehicles across the country.
The digital platform is a maiden attempt in the industry to enhance the confidence of livelihood automobile entrepreneurs, whom it aims to include and provide nearly 10000 retailers and 20000 garage owners a single digital ecosystem.
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. We will fully leverage the cutting edge technology solutions and create a digital ecosystem for over 20,000 entrepreneurs to enhance their future relevance,” R. Dinesh, Director, TVS Automobile Solutions, said.
The platform aims to provide retailers and garage owners with the opportunity to increase their business, access to high-quality parts with better margins, link with a large pool of suppliers, digital technology solutions to provide superior services to their customers, digital learning to upgrade their skill and financial solutions to manage their working capital, etc, TVS ASL said in a statement.
TVS ASL also announced 100% acquisition of goBumpr, one of the largest B-to-C service aggregation platforms.
“Ki Mobility will provide quality, transparent and cost-effective first-time-right service solutions to vehicle owners with the unmatched convenience of thousands of organized multi-brand garage owners in 270 towns across the country. I firmly believe that the unique O2O business and technology model will create large value to all stakeholders – individual vehicle owners, garage owners/retailers, alike and in helping parts manufacturers to increase their market share,” said G. Srinivasa Raghavan, Managing Director, TVS Automobile Solutions.
TVS ASL already has over 3 million customers which it aims to increase to 10 million by FY 25. As for the offline model, with the recent acquisition of Mahindra First Choice (MFC), the company has rebranded the MFC network into the myTVS fold thereby creating one of the largest multi-brand service networks across 270 towns in the country.
Ki Mobility Solutions has also announced fundraising of INR 85 crores from tech investors led by – Pratithi Investment Trust (represented by its trustee Mr S. Kris Gopalakrishnan, co-founder of Infosys) and SeaLink Capital Partners (SCP).
“We are delighted to have tech focused investors led by Kris Gopalakrishnan’s Pratithi Investment Trust in our journey to make industry stakeholders more digitally-enabled and future-ready. We are confident that the relationships and networks of our investors will provide an added fillip to our growth and look forward to working with them in delivering superior value to our customers,” Dinesh said.
News source- Economic Times