Bharat Forge invests in Tork Motorcycles


Bharat Forge Ltd., India’s largest exporter of auto components announces strategic investment of upto Rs 30 Crores for eventual stake of 45% in an EV startup, Tork Motorcycles.

Bharat Forge is making a strategic investment in Tork Motorcycles as a part of its overall EMobility powertrain development. Tork’s strength lies in its in-house team that has designed, developed and built the complete electric motorcycle. Their knowledge in the overall EV powertrain development will help Bharat Forge gain access to technologies in personal E-mobility space.

Commenting on the investment, Amit Kalyani, Executive Director, Bharat Forge said “Together with the recent investment in the R & D setup at Mira, UK, Bharat Forge is strategically aligning to develop solutions across the entire spectrum from low voltage powertrains in personal mobility to high voltage applications for commercial vehicles”.

“BFL is well prepared for the increased penetration of Electric vehicles globally through offering solutions on Light Weighting, components for drivetrain and creating supply chain capabilities for electric powertrain”.

“This strategic investment will enable BFL to develop components/ sub systems to address the huge potential in the Indian personal mobility space driven by regulatory push through various initiatives and the increasing economic viability of Electric Vehicles.”

About Bharat Forge

Bharat Forge Limited (BFL) is the flagship company of the USD 2.5 billion Kalyani Group and a global provider of high performance, innovative, safety & critical components and solutions to various industrial sectors including Automotive, Railways, Power, Defence, Construction & Mining, Aerospace, Marine and Oil & Gas. BFL today has largest repository of metallurgical knowledge in the region and offers full service supply capability to its geographically dispersed marquee customers from concept to product design, engineering, manufacturing, testing and validation.

About Tork Motorcycles

Tork motorcycles (www.torkmotorcycles.com) is India’s first, premium electric motorcycle company. Founded by Kapil Shelke, Tork’s early prototypes were developed between 2009 to 2012 and participated in several international races including the prestigious Isle of Man TT with podium finishes. This demonstrated the capability of team to develop a high performance product with world class technology.

Tork team has been working on developing production version “T6X” since 2015. T6X is powered by lithium ion batteries, engineered to travel at a top speed of 100 kmph with superior acceleration. T6X travels 100 km on a single charge in all-weather condition. With its quick charge feature, the battery can be charged up-to 80% in an hour. T6X will have on board navigation, storage, cloud Connectivity and TFT dash board. Presently, T6X is being thoroughly tested on all parameters before it hits the market.

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Daimler invests in the start-up Anagog

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Sabine Scheunert, Vice President of Digital and IT for Marketing & Sales Mercedes-Benz Cars announced the investment of Daimler AG in the start-up Anagog at the Mobile World Congress 2018.
  • Investment intensifies cooperation
  • Analysis and prediction of user behaviour with the aid of artificial intelligence
  • EQ Ready App already on the German market

Stuttgart/Tel Aviv – Daimler AG is intensifying its cooperation with the start-up Anagog Ltd. Daimler has participated in a financing round together with MizMaa Ventures, a venture capital company located in California. Based in Tel Aviv, Anagog has developed software which analyses user behavior directly in the mobile phone with the aid of the various on-handset sensors, and on the basis of artificial intelligence it predicts future movement scenarios.

Through this data analysis the mobile handset understands what the user is doing and the environment in which they are located. This means that various contextual services can be generated to improve the user experience. Anagog’s patented technology changes the rules of the game when it comes to using artificial intelligence on mobile phones and other wearables, without the aid of any backend servers.


The Mobility Status Company from ANAGOG

“We want to make the best digital services available not just to our customers, but to all mobile phone owners. We are improving every digital touchpoint in the mobility behaviour of our customers and thus increasing their independence”, says Sabine Scheunert, Vice President of Digital and IT for Marketing & Sales Mercedes-Benz Cars. “With the investment in Anagog we are a big step closer to achieving this goal. This step also fits with the strategic approach taken by Daimler AG in investing in appropriate start-ups and supporting them as they grow.”

A significant advantage of the Anagog development “JedAI SDK” (Software Development Kit) here is the high data and privacy protection which grants the users full control over their data, as no data transfer to a backend server is required.

Anagog was founded in 2010 and in 2017 it participated in the start-up programme ‘The Bridge’ supported by Mercedes-Benz. The first joint development has already been on the German market since September 2017 in the form of the EQ Ready App. This app helps motorists decide whether it makes sense for them personally to switch to an electric car or hybrid. The smartphone app can record real journeys made by the user and compare it with numerous parameters of electric and hybrid vehicles. This makes it possible to try out e-mobility in a virtual yet realistic way. The EQ Ready app also recommends which electric or hybrid car model from smart or Mercedes-Benz best matches the user’s individual needs.

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DENSO Leads Dellfer’s Initial Funding Round, Supporting Cybersecurity for Connected Vehicles

Seed investment will help Dellfer develop cybersecurity safeguards for connected and autonomous vehicles

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KARIYA (Japan) ―DENSO, one of the world’s largest automotive suppliers, has announced a significant investment in Dellfer, an IoT and automotive cybersecurity startup company based in San Francisco, California.  Dellfer is a young startup focusing on cybersecurity solutions against “zero day” attacks within connected networks such as deployed IoT devices, and in the future, connected vehicles.  Dellfer will use the proceeds from this funding to build out its development team and begin discussions with early adopter customers, including DENSO.

“As cars become smarter, more connected, and autonomous, advanced safeguards to secure and protect the technology within those vehicles will be a key area of focus for DENSO, and the auto industry as a whole,” said Tony Cannestra, Director of Corporate Ventures at DENSO. “DENSO will continue to strongly support technologies like Dellfer’s to ensure that a safe and secure mobility future is delivered to our customers.”

“This investment accelerates our mission for IoT device cyberspace protection against zero day attacks,” said Dellfer CEO James Blaisdell. “We look forward to a deep and fruitful partnership with DENSO to deliver advance safeguards for protecting vehicles.”

DENSO continues to evaluate technology investment opportunities for automotive solutions and innovative technologies with potentially significant implications for the future of transportation. The company focuses on advancing four core areas: connectivity, autonomous driving, shared mobility and electrification (CASE) technologies. DENSO opened a Silicon Valley office in 2011, and in 2014 created a dedicated Corporate Venture Capital (CVC) group to pursue early stage investment opportunities around the world with entrepreneurs and startup companies. The company also lends expertise and monetary support to two technology incubators – Prospect Silicon Valley and NextEnergy.

About DENSO Corporation

DENSO Corp., headquartered in Kariya, Aichi prefecture, Japan, is a leading global automotive supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electronics and information and safety. Its customers include all the world’s major carmakers. Worldwide, the company has more than 200 subsidiaries and affiliates in 38 countries and regions (including Japan) and employs more than 150,000 people. Consolidated global sales for the fiscal year ending March 31, 2017, totaled US$40.4 billion. Last fiscal year, DENSO spent 9.0 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges.

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WARBURG PINCUS TO INVEST $360 MILLION TO ACQUIRE A SIGNIFICANT MINORITY STAKE IN TATA TECHNOLOGIES FROM TATA MOTORS AND TATA CAPITAL

Mumbai, June 15, 2017: An affiliate of Warburg Pincus, a leading global private equity firm focused on growth investing, has committed to invest around US$360 million for approximately 43% equity stake in Tata Technologies Limited (the “Company” or “Tata Technologies”), a global leader in engineering outsourcing and product development IT services. Warburg Pincus will purchase approximately 30% from Tata Motors Limited (“Tata Motors”) and its subsidiary Sheba Properties Limited, as well as the entire 13% stake held by Tata Capital (8.7% from Alpha TC Holdings Pte Ltd and 4.3% from Tata Capital Growth Fund I). Post the transaction, Tata Motors and affiliates of the Tata Group will continue to retain a significant minority interest of approximately 43% in Tata Technologies, with the remaining ownership held by the management team and other shareholders.

Tata Technologies is a global engineering services and product development IT company with more than 8,500 employees located in 23 countries. Tata Technologies helps the world to drive, fly, build and farm by enabling blue-chip automotive, aerospace and industrial machinery manufacturers realize better products. Leveraging its balanced onshore–offshore delivery model, Tata Technologies has recently delivered multiple fully outsourced vehicle programs for automotive clients, a capability that is unique amongst India-based engineering services companies. The Tata Technologies services portfolio combines engineering, research and development (ER&D); product lifecycle management (PLM) and connected enterprise IT (CEIT) solutions.

“Tata Technologies has developed significant engineering capabilities over the years. The partial divestment is part of Tata Motors’ plan to strategically monetize part of the value created while also inducting a valuable partner, together with whom the Company can excel in its next phase of growth”, said Mr. C. Ramakrishnan, Group CFO, Tata Motors. Mr. Ramakrishnan added, “We look forward to partnering with Warburg Pincus and achieving greater heights for the Company and all its stakeholders.”

“Tata Technologies is widely acknowledged for its superior service offerings and its industry leading engineering capabilities. The Company has demonstrated the ability to scale accounts in a competitive industry by becoming embedded in the manufacturing and product development process of its customers. We are delighted to be partnering with the Tata Group to support the continued growth and development of the Company. We look forward to backing the strong management team at Tata Technologies and leveraging Warburg Pincus’ global network and prior experience in the engineering services space to help grow the business, organically and inorganically, and create value for all stakeholders”, said Vishal Mahadevia, Managing Director and Co-Head of Warburg Pincus India.

“This investment is a testament to our achievements to date and, more importantly, of our great potential moving forward,” said Tata Technologies CEO and MD Warren Harris“As the engineering services outsourcing (ESO) market has matured from cost arbitrage and staff augmentation to increasingly high-end, strategic work, Tata Technologies has been there leading the charge. With the perspective and insights that Warburg Pincus offers as a premier global private equity firm, we are confident we will not only continue moving up the value chain, but materially accelerate our growth journey.”

“Tata Technologies has demonstrated over the past six years of our investment, a high quality engineering services solution appreciated by its marquee client base. The Company has scaled as per our expectations and will deliver an industry leading return profile for the Fund,” said Akhil Awasthi, Managing Partner, Tata Capital Growth Fund I.

Citigroup Global Markets India Private Limited acted as the sole financial advisor to Tata Motors and Tata Capital Investment Banking acted as the sole financial advisor to Tata Capital. The transaction is subject to customary regulatory approvals.

About Tata Technologies:
Tata Technologies makes product development dreams a reality by designing, engineering and validating the products of tomorrow for the world’s leading manufacturers. With more than 8,500 employees serving clients worldwide, Tata Technologies is the manufacturing industry’s premier partner for advanced engineering, research and development, product lifecycle management consultancy and software, and connected enterprise IT solutions. For more information please visit www.tatatechnologies.com

About Warburg Pincus:
Warburg Pincus is a leading global private equity firm focused on growth investing. The firm has more than US$40 billion in private equity assets under management. Its active portfolio of more than 140 companies is highly diversified by stage, sector and geography. Founded in 1966, Warburg Pincus has raised 16 private equity funds, which have invested over US$60 billion in over 780 companies in more than 40 countries. Affiliates of private equity funds raised by Warburg Pincus have invested approximately US$4 billion in over 50 Indian companies. The firm is headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, London, Luxembourg, Mauritius, Mumbai, San Francisco, São Paulo, Shanghai and Singapore. For more information please visit www.warburgpincus.com

About Tata Motors:
Tata Motors Limited is India’s largest automobile company, with consolidated revenues of INR 269,850 crores in 2016-17. Through its subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 9 million Tata vehicles plying in India, Tata Motors is the country’s market leader in commercial vehicles and among the top in passenger vehicles. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia, South America, Australia, CIS and Russia. (www.tatamotors.com; also follow us on Twitter: https://twitter.com/TataMotors)

About Tata Capital Growth Fund (TCGF):
Tata Capital Growth Fund, a sector agnostic US$240 Million fund was raised in 2011 with participation from global and Indian institutional investors. TCGF is fully committed across nine portfolio companies. TCGF leverages the strength of the Tata Group across all four facets of private equity, i.e. deal sourcing, deal evaluation, value add and exit. For more information please visit www.tatacapital.com

About Sheba Properties Limited (Sheba):
Sheba is a subsidiary of Tata Motors Finance Limited (TMF). TMF and its subsidiaries are having Assets under Management of over USD 3.7 Billion and are engaged in the business of financing entire range of Tata Motors manufactured commercial vehicles, passenger cars and used vehicles. TMF has a presence over 250 branches spread across India to cater the needs of every customer who dreams of owning any of Tata Motors products. TMF group is the largest financier of Tata Motors vehicles and also offers customized product offerings to Tata Motors dealers, vendors and end customers. For more information, please visit www.tmf.co.in

For further information, please contact
Tata Technologies:

Vinay Rawat Tel. 024 77717877

FTI Consulting: 
Andrew Todd Tel. 020 3727 1000

Via: Tata Technologies Press Release