TVS Automobile Solutions (TVS ASL) announced it has made investments in three start-ups to form an ecosystem for its digital initiatives where the company will provide digital business solutions to vehicle and component manufacturers.
The company has invested in the following start-ups:
- Jazzmyride.com – An e-commerce website in the auto aftermarket with over 3,00,000 customers – the company deals with 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.
- Autosense – It provides technology and analytics based customer management services in “business as a service” model for the industry. Cequity is a leader in data-driven marketing business using CRM, Analytics & BIG DATA solutions across a variety of industry verticals. Cequity has partnered with TVS ASL in creating Auto Sense – Digital technologies and analytics based marketing services company for an automotive vertical.
- Redsun – Internet of Things start-up – Developed business solutions like Connected cars in addressing, safety, convenience and integrated service for customers. Connected Car is the next digital platform that would bring product development closer to the customers through real time visibility of performance of the vehicle.
Speaking on the occasion, G. Srinivasa Raghavan, Executive Director, TVS Automobile Solutions, said that TVS ASL is positioned in providing both digital technology solutions and brick & 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. He further added that they have invested about INR 75 crores in tech start-ups as they bring in emerging tech solutions, TVS ASL will help them with domain, scale and profitability. They expect these businesses to generate revenue of INR 250 crores in the next 3 years.
Sunil Dhingra, Founder & CEO, Jazzmyride.com, said, “We see tremendous synergy with TVS ASL with O2O (online to offline) retailing approach thereby bringing the best of both the worlds to the benefit of all stakeholders in the value chain.”