Jazzmyride, AutoSense and Redsun Telematics have raised funds from the automoile giant, TVS Group. The announcement was made public on Thursday by a company representative.
Out of the companies which raised the investment, Jazzmyride.com deals with accessories and spare parts of automobiles. At the same time, AutoSense is a customer management service working with technical and analytical aspects. Redsun Technologies is an IoT based startup building smart automobile solutions like connected cars and smart dashboards.
Before this, TVS Automobiles had picked up a majority share in the online marketplace, Jazzmyride in may 2016. More financial details of the transaction were not disclosed at the moment.
Speaking on the development, Srinivasa Raghavan, Executive Director, TVS Automobiles said TVS has always been a pioneer in manufacturing the world class product and with the recent developments, the company has established itself in the digital segment as well. He further added that the digital solutions add a lot of transparency in the whole procedure and it lets them offer customized products and services to the users. TVS hopes to generate over 250 Cr worth of revenue with these companies in the coming 3 years.