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TVS Motor Company has acquired Bengaluru-based start-up Intellicar in a money deal of Rs. 15 crore, with the corporate creating built-in IoT options for fleet monitoring and predictive upkeep for a variety of automobiles.
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Intellicar’s software program options will assist TVS speed up its ongoing digital initiatives
Hosur-based two-wheeler big TVS Motor Company has acquired telematics start-up Intellicar in a money deal of ₹ 15 crore, the corporate has introduced in a BSE submitting. The Intellicar software program platform developed by the start-up is described as a one-stop built-in IoT answer with fleet monitoring and predictive upkeep options to a variety of car varieties. The acquisition will assist speed up TVS’ ongoing digital initiatives focused in the direction of enhancing the shopper’s possession expertise. The acquisition course of might be full by December 31, 2020.
Also Read: TVS Introduces ARIVE Mobile App With An Augmented Reality Purchase Experience
Intellicar was based in 2015 and has a reported income of ₹ 16.10 crore in FY2020, up from ₹ 9.66 crore in FY2018. The firm says its software program platform goals to deal with massive quantities of car knowledge, which in flip helps the analytics algorithm to foretell half failures in addition to assess driving behaviour that impacts the car efficiency. Intellicar’s main purchasers function in self-drive and automobile rental providers, logistics, taxis providers in addition to vehicle and auto ancillary OEMs. The firm’s web site lists manufacturers like Ashok Leyland, Blackbuck, Royal Brothers, Orix, VRL Logistics, Zoomcar amongst different corporations as its purchasers.
Also Read: Mahindra First Choice Services To Become A Subsidiary Of TVS Automobile Solutions
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Meanwhile, TVS goes large on its digital initiatives and lately launched the ARIVE cellular app that makes use of augmented actuality to convey extra details about its merchandise to clients. The firm goals to vary the product exploration expertise with the brand new app. It is proscribed to the TVS Apache RR 310 and the Apache RTR 200 4V for now, however will embody the corporate’s full portfolio sooner or later.
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