TVS Automobile acquires vehicle service aggregator startup GoBumpr
TVS Automobile Solutions, the multi-brand car servicing network which operates the MyTVS brand has announced the acquisition of Chennai headquartered startup –, an online aggregator of two- and four-wheeler service outlets, for an undisclosed value.
Founded in 2015 by IIM alumni — Karthik Venkateswaran, Nandha Kumar Ravi, and Sundar Natesan, GoBumpr has a presence in four cities – Chennai, Bengaluru, Hyderabad, and Pune with a base of around 1,200 automobile workshops. It has a customer base of more than one million.
The acquisition of GoBumpr is expected to strengthen the digital presence of TVS Automobile, given the former’s experience in building an online network. It also gives TVS Automobile a stronger foothold in the B2C segment in the after-sales service market, given the experience of GoBumpr acquiring customers through the digital route.
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GoBumpr has raised four rounds of funding till now with the key backers being the Chennai Angels, Keiretsu Forum, and angel investors like Freshworks founder Girish Mathrubhootham.
GoBumpr operates on a pre-paid model, having built a wide network with independent two- and four-wheeler service outlets. It also recently launched a home services platform to provide these services at the location of the customers.
The vehicle service space has the presence of other players like GoMechanic, Pitstop, and ReadyAssist. For example, GoMechanic is backed by marquee investors such as Tiger Global and Sequoia.
According to people familiar with the development, the digital acumen of GoBumpr combined with the long-standing experience of TVS will give them a stronger platform to lead the after-sales market.
GoBumpr is among the leading players in the vehicle service aggregation space in the B2C category.
TVS Automobiles also unveiled a digital unit – Ki Mobility Solutions with the aim to help entrepreneurs in the automobile segment get access to large pool of suppliers and provide them with digital tools to manage their working capital.