TVS | Pixr8 News

Ultraviolette Automotive Private Ltd., a Bangalore-based electric bike company was allotted 3,848 equity shares of INR 10/- at a premium of INR 7,399/- in February according to regulatory filings. After which, Kumar Vembu’s founder of Zoho & Go-frugal Technologies invested INR 2.8 Crore in the company. Back in December, TVS announced to have bought a 14.78% stake in startup Ultraviolette Automotive Pvt. Ltd. The company already tested three prototypes despite not launching any electric two-wheelers yet. It has already crafted its business model which projects the delivery of motorcycles by the end of 2018. They amassed a total revenue of INR 3.21 lakhs in 2016-17 and only generated INR 31,570 in 2015-16. The automotive company believes in the future with clean energy and sustaina...

TVS Automobile Solutions, a part of the Chennai-based TVS Group, today said it has made substantial investments in three startups as part of its digital initiatives to provide business solutions to vehicle and component manufacturers. The company, which has so far invested Rs 75 crore in various technology startups expects the new businesses to generate revenues to the tune of Rs 250 crore in the next three years. TVS Automobile Solutions (TVS ASL) said it has made investments in JAZZMYRIDE.com, an e-commerce player in auto aftermarket dealing with parts and accessories for passenger vehicles, two wheelers and commercial vehicles. It has also invested in AUTOSENSE, a technology and analytics based customer management services and REDSUN, a startup in Internet of Things space worki...

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Electric Bike Manufacturer Raises 2.8 Crore From Founder of Zoho

TVS Automobile Invests in 3 Startups