India’s biggest automobile company Tata Motors acquired 26% stakes in a tech-based freight aggregator TruckEasy.
The Bengaluru based startup Truckeasy will use this investment to expand its footprint in other cities.
Bengaluru based logistics company TruckEasy registered as a Loginomics Technologies Solutions Ltd, was formed in 2015 providing service for transporting needs of businesses within the city.
As per the information on the website, TruckEasy transport anything within Bangalore using Light commercial vehicles. You can rent Tata Ace, Super Ace at the click of a button. Sign up and book mini trucks for transporting goods within the city.
Tata Motors President Commercial Vehicles Business Unit (CVBU) Girish Wagh said,“Through this investment from Tata Motors, TruckEasy will be able to access our wide network to grow the supply side and also to expand to multiple locations country wide.”
TruckEasy CEO Nikhil Thomas said, “With the entry of Tata Motors as an investor, a box of limitless opportunities has opened up. Tata Motors having a majority market share in the small CV segment, the alliance will certainly give us access to a lot of vehicles and businesses through their network”.
Tata Motors said the strategic investment in TruckEasy will provide it an insight into the rapidly growing technology-driven transformation in the freight logistics space and also get an understanding of the market dynamics in the intra-city freight movement.
“This will also enable Tata Motors to stay closer to the final customer, the load consigner thus enabling to provide better products and solutions,” it added.
The data analytics provided by TruckEasy will be further used for research and development thereby allowing for better customisation of product specifications in line with market requirements, the company said.