TVS & Sons Group has acquired
Bengaluru headquartered CheckGaadi.com, a provider of vehicle inspection
technology and CRM solutions. CheckGaadi was founded in January 2015. The startup
provides hassle free “vehicle inspection services” for 2-wheelers and 4-wheelers
vehicles. It also provides bike-servicing on its platform.
With this move, proprietary
technology of CheckGaadi will be transferred to TVS. It will continue business
operations as part of TVS. CheckGaadi scaled up to a team size of 30 across 11
major cities serving close to 75,000 customers till date. The CheckGaadi
customer engagement solution relies on predictive analytics and machine
learning algorithms.
It makes use of vehicle health
information to make predictions about its future and automatically determines
the best time and context to connect with the customer. On the other hand, the
TVS Group is a leading supplier of automotive components. The automobile market
in India is pegged at $125 Billion. Out of which, $100 Billion is the estimated
share of automobile sale and remaining $25 Billion including services. It is
expected to grow at a rate of about 10% to a whopping $225 Billion by 2020.
In May 2017, Mumbai-based online
automobile classifieds platform, CarTrade’s parent company MXC Solutions, acquired vehicle
inspection and valuation
venture Adroit Inspection in an all-cash deal. In June 2017,
Gurugram - based used car marketplace Spinny raised
$1 Mn Seed funding led by Blume Ventures, Indian Angel
Network, and FreeCharge. Other startups that work in this segment
apart from CheckGaadi include Droom, CarWale, MahindraFirstChoice, Carnation, CarDekho, CarTrade, along with some classifieds
players such as Quikr and OLX.
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