Carnation Auto is an initiative by Mr. Jagdish Khattar, with a vision of developing India's largest independent multi-brand automobile sales and service network. Carnation is setting up a state-of-the-art network of integrated auto solution hubs across the country to enhance the overall experience of owning a car and to optimize the cost of ownership. Carnation provides complete solutions for almost all brands of cars, starting from quick servicing, mechanical repairs, body repairs, accessories, insurance, car exchange, car customization solutions with DC Design and even doorstep service through a chain of workshop on wheels. The Company has recently got into a strategic alliance with Magneti Marelli a $7 Billion subsidiary of the Fiat Group to service premium cars and to market spares in the Independent aftermarket.
Carnation Auto raised its first round of funding of Rs108 crore from marquee investors PremjiInvest and IFCI Ventures. Recently it received a loan of Rs 170 crore from Punjab National Bank for executing the nation-wide rollout of its multi-brand auto solution hubs.
Our aim as an industry consolidator is to organize the much fragmented auto solutions market. Through this multi-brand innovation, we would also like to provide an alternative to the customer if he is not satisfied with his current service provider. All auto related solutions under one roof for all brands, pan India, is also an incredible value to those families having multiple brands and models, corporate, fleet owners and taxi operators.
In an effort to provide total auto care to our customers under one roof, Carnation has tied-up with leading names in the automobile industry. Tie up with 3M & Gard X are for value added services, Castrol for lubricants, Bridgestone for tyres and Asian PPG & Akzo Nobel for paints. By adopting world-class equipment and IT systems we have been able to implement thorough transparency in the system while enhancing the quality of service in all our processes. Carnation has implemented SAP Dealer Business Management suite in India for the first time with TCS as the technology partner. SAP plays a key role in improving productivity and facilitates real-time access on a single database. It helps in efficient scheduling and utilizing assets more effectively. The technology assists in visibility across locations in India and also manage inventory from site to site.
We are also looking to create joint ventures in some key states and union territories that are capable of running successful automobile dealerships. This endeavor would provide us with critical local insights and help in accelerating the roll out of operations. At present four Joint Venture partners are already on-board and we are in discussion with several others.
Carnation Auto already has 20 Auto Solution Hubs operational across India, one each in Amritsar, Gurgaon, Bangalore, Karnal, Jalandhar, Chandigarh, Surat, Sahibabad/Ghaziabad and Kochi; two each in Chennai and Noida, three in Mumbai and four in Hyderabad. Carnation already has over 1000 employees.