Tata Motors said today that it has bought 26 per cent stake in TruckEasy, a tech-based freight aggregator, marking its first investment in a start-up.
It did not disclose the deal value.
The investment is being done through Tata Motors Finance Holdings, a wholly-owned subsidiary of the company, Tata Motors said in a statement.
TruckEasy, which is owned by Bangalore-based logistics company Loginomics Technologies Solutions Ltd, was formed in 2015 providing service for transporting needs of businesses within the city.
The start-up will use this investment to expand it footprint to additional cities.
Tata Motors said the investment is part of its continued endeavour to bring smart solutions to enable the Trucking Community to have better lives and improve their livelihood.
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."
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