One of India’s leading commercial vehicle maker, Tata Motors Ltd, has acquired a 26% stake in logistics startup TruckEasy, through Tata Motors Finance Holdings, a wholly-owned subsidiary of Tata Motors.
A tech-based freight aggregator owned by Loginomics Technologies Solutions Pvt. Ltd, TruckEasy was founded by Nikhil Thomas, Vikram Kodgi and Avinash Achar in May 2015.
Interestingly, Thomas and Kodgi have previously worked at Tata Motors in the logistics domain, apart from other areas within the company and other multinational firms.
TruckEasy is currently operational only in Bengaluru and claims to have serviced over 8,000 customers by more than 3,000 driver partners.
With this acquisition, “Tata Motors aims to gain a foothold in mobility services to be “future ready”, said a company spokesperson.
“The strategic investment would provide Tata Motors with an insight into the “rapidly-growing, technology-driven transformation” in the freight logistics domain and obtain “an understanding of the market dynamics in intra-city freight movement”, the company said.