TVS Automobiles Solutions Ltd, which operates a multi-brand car servicing chain under the MyTVS brand, said on Tuesday it has formed a new digital unit Ki Mobility Solutions.
Ki Mobility raised Rs 85 crore from tech investors led by Pratithi Investment Trust and SeaLink Capital Partners, TVS said.
TVS Automobiles Solutions also acquired vehicle service app goBumpr.
The company, which is part of Chennai-based TVS Group, said Ki Mobility aims to increase automobile entrepreneurs’ business, provide access to a large pool of suppliers, and offer digital learning to upgrade skills and solutions to manage their working capital.
“Launching Ki Mobility is a milestone moment in the Indian automotive aftermarket industry and a logical next step of our technology investments so far,” R Dinesh, director of TVS Automobile Solutions, said.
“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,” Dinesh added.
TVS Automobiles Solutions recently acquired Mahindra First Choice, after which it rebranded MFC network into myTVS fold.
TVS Automobiles Solutions, which has over 3 million customers, said it aims to increase its customers to 10 million by 2025.