TVS Motor acquires 24% stake in online marketplace RentOnGo

Pays Rs 1.5 cr for stake in bike renting start-up that availed funding from ex-Snapdeal exec in 2015

TVS Motor logo

TVS logo

T E Narasimhan Chennai
TVS Motor Company has acquired a 24 per cent stake in RentOnGo, a Bengaluru-based start-up operated by Condivision Solutions and an online marketplace for renting bikes. The two-wheeler and three-wheeler maker invested Rs 1.5 crore in Condivision Solutions.

While TVS Motor did not respond to a Business Standard's query, in a stock exchange filing the company informed of making the investment from the futuristic perspective on the emerging pay-by service model.

Condivision Solutions was founded in 2012 by Nikhil Chhabra and Vikash Jalan.

First Published: Aug 15 2017 | 3:51 PM IST

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