Ki Mobility has raised Rs. 85 crore initial funding from tech investors led by Kris Gopalakrishnan’s Pratithi Investment Trust and SeaLink Capital and currently has the largest network of high quality & cost-effective multi-brand vehicle service centres across 270 towns in India
TVS Automobile Solutions Pvt. Ltd. (TVS ASL), India’s largest independent automotive aftermarket player, has made major announcements to support its aggressive growth strategy. Towards this, the company announced the formation of a new digital subsidiary – Ki Mobility Solutions. Ki Mobility is India’s first full-stack O-to-O (online-to-offline) digital platform that would 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. This will give them 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.
R. Dinesh, Director, TVS Automobile Solutions, said: “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.”
The company, with an aim to strengthen the value proposition to end customers, further announced 100% acquisition of goBumpr, one of the largest B-to-C service aggregation platforms. With this, Ki Mobility Solutions will become a one-stop-shop for all service requirements to automobile owners where they can access high-quality repair management services, Parts, Accessories, Tyres, Batteries, Insurance and on-demand Roadside Assistance across the country. Besides, the company already has over 3 million customers, by far the largest in the aftermarket industry, 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 successfully rebranded MFC network into myTVS fold thereby creating one of the largest multi-brand service networks across 270 towns in the country.
Ki Mobility Solutions has also announced a fund raising of Rs. 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).
Dinesh further added: “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.”
G. Srinivasa Raghavan, Managing Director, TVS Automobile Solutions, said: “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.”