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Aeris Asset Assurance Platform helped retrieve a stolen vehicle from RevFin’s Dealer in 3 hours

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Aeris, a preferred Internet of Things (IoT) technology partner for Enterprises, successfully tracked and recovered a stolen vehicle in less than 3 hours through Aeris Asset Assurance Platform. The industry’s first comprehensive asset protection and repossession IoT platform helped RevFin Dealer M/S Lokesh Automobiles retrieve their stolen vehicle in Bihar, India.

Aeris partnership with RevFin began in 2021 for EV projects with an investment of USD 15 million. These EVs are embedded with IoT solutions powered by the Aeris Asset Assurance Platform that focuses in helping the financial institutions to be able to track, lend and understand the utilization of movable assets. Partnership with Aeris has helped RevFin in realizing its vision to create an integrated EV lending platform with embedded IoT to help drivers in improving their income, ensure better EMI repayments, and reduce their insurance claims.

This is the not the first time Aeris technology has helped vehicle owners to keep their vehicle safe. From commercial trucks and passenger vehicles to high-value personal cars, and even e-Rickshaws and cycles, Aeris AerTrak and Asset Assurance Platforms have exemplified the benefits of using IoT technology in retrieving an owner’s asset before it got lost and sold in another city. It has also helped the police arrest wanted criminals who have been absconding for a long, and, dealers, financiers and even insurance companies have benefited from the value proposition of using IoT solutions. With 100,000 cars stolen each year in India, such IoT technologies for stolen vehicle recovery has made recovering these vehicles much simpler for dealers and financiers.

Sameer Mahapatra
Mr. Sameer Mahapatra, Vice President Sales & country Manager, India at Aeris Communications India Pvt Ltd,

On the recovery of the stolen vehicle, Mr. Sameer Mahapatra, Vice President Sales & country Manager, India at Aeris Communications India Pvt Ltd, said, “Aeris commitment to bring more affordable IoT solutions and services keeps us at the forefront of making vehicles truly connected, secure, and help promote green mobility. Today, we are the market leader in the IoT market for 2&3 electric vehicles segment. Our customers come from different socio-economic strata living in both cities and villages. Our business clients benefit by maintaining their market differentiation and provide enhanced customer experience. Our B2C customers, who also come from the bottom of the pyramid, benefit by ensuring safety and security of their vehicles which for most, is the only source of livelihood!”

Mr. Sameer Aggarwal, the Founder and Chief Executive Officer, of Revfin,

Mr. Sameer Aggarwal, the Founder and Chief Executive Officer, of Revfin, said “We are a leading fintech who has successfully executed financial inclusion in our loan business in 14 states with 559 Plus dealerships. Our deep expertise in technology helps us to underwrite financially excluded customers within 15 minutes. We have already financed over 10,000 electric three-wheelers and set an ambition of financing 2 million electric vehicles in the next 5 years. Aeris has been our trusted partner in this journey, and we are happy to share that their cutting-edge technology has assured and empowered not only our business but the business of our dealers too by making our financed vehicles connected, trackable, and providing features such as immobilization for securing vehicles from theft.”

Mr. Lokesh Kumar Jha, Proprietor, Dealer M/S Lokesh Automobiles, said, “Usually it takes days to recover a stolen vehicle, and only if one is lucky, one would get the vehicle back after months of efforts. We have been amazed at the speed with which our vehicle was recovered using technology from Aeris. The team has extended their full support, were constantly updating us on our vehicle’s position in real-time and stopped the vehicle remotely which led to recovery in less than 3 hours! In our experience as dealers in this area, this is the first time a stolen vehicle has been recovered in record time. We thank Revfin for having such useful partnerships.”   

On 15th December around 04.30 pm, a vehicle with Chassis No: Rev_M8EY4AL21HP000847 was reported stolen by RevFin Finance Dealer M/S Lokesh Automobiles to Aeris office. Aeris located the vehicle successfully on Aeris Asset Assurance Platform. The live tracking feature showed the movement of the vehicle in the Maheshi area of Bihar which was 50 km from the dealers’ location. The location was shared with the dealer, and using the platform’s immobilization feature, the vehicle was remotely immobilized immediately so that the vehicle could no longer move from its current location. The dealer’ staff could recover its vehicle, and within 3 hours of reported theft, the vehicle was brought back to the showroom.

In another case, Aeris IoT solutions AerTrak technology helped retrieve a stolen electric scooter (eScooter) in Odisha, where the IoT sensors that track vehicle activity saved the day for one of the scooter’s owner. With India’s first IoT-based Connected eRickshaw solution, Aeris also successfully recovered multiple stolen eRickshaws in Delhi/NCR.

 

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