TVS Automobile unveils digital subsidiary Ki Mobility, announces Rs 85cr fundraising

The new entity would offer quality, standardised and cost-effective service to vehicle owners of two-wheelers, passenger cars and commercial vehicles across the country. It will also look to enter developing and developed countries as well.

By:Updated: Jun 30, 2021 9:07 AM

TVS Automobile Solutions (TVS ASL), an independent automotive aftermarket player from TVS Group, has announced the formation of a new digital subsidiary ‘Ki Mobility Solutions’, raising funds to the tune of Rs 85 crore from tech investors led by Pratithi Investment Trust (represented by its trustee S Kris Gopalakrishnan, co-founder of Infosys) and SeaLink Capital Partners (SCP).

The new entity would offer quality, standardised and cost-effective service to vehicle owners of two-wheelers, passenger cars and commercial vehicles across the country. It will also look to enter developing and developed countries as well.

TVS ASL said the digital platform, with unique offline-to-online model, is a maiden attempt in the industry to enhance the confidence of livelihood automobile entrepreneurs, whom it aims to include and provide nearly 10,000 retailers and 20,000 garage owners a single digital ecosystem. The company, with an aim to strengthening the value proposition to end customers, has announced 100% acquisition of goBumpr, one of the largest B2C service aggregation platforms.

R Dinesh, director, TVS Automobile Solutions, said, “With the acquisition of Mahindra First Choice last year, we had grown into a pan-India entity. 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 expect a turnover of `1,000 crore for Ki Mobility by the end of the current fiscal.”

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