Tata Motors Finance Holdings, a subsidiary of Tata Motors, has picked up 26 percent stake in TruckEasy, a tech based freight aggregator owned by Loginomics Technologies Solutions, a Bangalore based logistics company.
Tata Motors will gain from an insight into the technology-driven transformation in the freight logistics space and also get an understanding of the market dynamics in the intra-city freight movement.
Tata Motors will be able to stay closer to the final customer, the load consigner thus enabling to provide better products and solutions. Tata Motors will use the data analytics provided by TruckEasy for research and development allowing for customization of product specifications in line with market requirements.
Three young entrepreneurs – Nikhil Thomas, Vikram Kodgi and Avinash Achar — formed TruckEasy in 2015 in Bengaluru. The company provides service for the transporting needs of businesses within Bangalore. TruckEasy will use this investment to expand its footprint to additional cities.
Girish Wagh, president – Commercial Vehicles Business Unit, Tata Motors said the tech start-up has grown manifolds due to its partner-based module and its outstanding service to its customers. TruckEasy can access network of Tata Motors to grow the supply side and also to expand to multiple locations.
Nikhil Thomas, CEO of TruckEasy, said: “The alliance will give us access more vehicles and businesses through their network. This would help us scale at a much faster pace. We in turn can give deeper insights into the SCV usage pattern with our vehicle data analytics.”
