Multinational Technology Company: Bosch acquires 14% Stake in Deeptech B2B Startup Zeliot
- ByStartupStory | April 2, 2022
In Bengaluru-based deeptech B2B startup Zeliot Connected Services, a 14% minority stake has been acquired by multinational technology company Bosch Ltd. Bosch said that through offerings on digital platforms in personalised and connected mobility, this investment would help the company enhance its role in the mobility landscape.
Zeliot was founded in 2018 and it offers connected mobility solutions to enterprises and Automotive OEMs. To additionally enhance the startup’s ability to offer microservices as APIs, offering device-agnostic solutions for more customers in India, is expected by this investment, supplemented with Bosch Mobility Marketplace.
Bosch said that the company has been working extensively in the connected mobility environment in order to create a digital mobility ecosystem that has safety and sustainability at its core, at a time when the automotive industry is undergoing rapid technology transformation.
In fact, new business models have been consciously forayed by Bosch. A platform to transact digital assets, reflected by its recent acquisitions and the launch of Mobility Could Platform and Mobility Marketplace.
By the end of 2023, the global connected mobility solutions market is expected to grow with a compound annual growth rate (CAGR) of 19%, with Bosch being one of the key players in the market along with companies such as Mitsubishi Motors Corp, Siemens AG, NXP Semiconductors, as per a 2021 analysis.
Incidentally, especially with the fast-changing mobility solutions market in the country, the picture is not different if we talk about India alone.
In 2019 with a Bengaluru-based deeptech startup SimYog Technologies, Bosch started its first venture investment in India, states a report. In February this year there were reports that in the next five years Bosch would invest a total of INR 2,000 Cr in India towards the localisation of advanced automotive technologies.
Also Read
Follow Startup Story
Related Posts
