The pre-owned car retailing platform, Spinny on Thursday announced that it has acquired a 100% stake in the AI-powered connected car startup Scouto.
The startup has developed an end-to-end connected car technology suite that provides detailed intelligence on the health and performance of the vehicle, connects the vehicle owner to automotive service providers (e.g., insurers, Fast-Tag players, etc.,) and significantly improves the overall car ownership experience.
Through this agreement, the vehicle retailing platform aims to integrate AI-powered solutions in the used car segment and become the market leader, a release from the company stated.
Niraj Singh, Founder & CEO, Spinny, said, “As part of the acquisition, Scouto’s founders will become an integral part of Spinny & help build and drive our connected car offerings forward. By augmenting each other’s capabilities, we can accelerate towards building the country’s largest and the most trusted used car brand.”
In December 2021, Indian cricket legend Sachin Tendulkar partnered with Spinny as a strategic investor and a lead brand ambassador. Furthermore, the Sports icon, PV Sindhu, would also be a part of a series of marketing initiatives, the release added.