Anoop Naik

We being mobility startup, we being autonomous vehicle-related startup, Bosch plays a significant role in the roadmap of the company.

So Bosch is a global player, probably the best known name in the automotive industry, right?

Having them on your cap table, having them as your partners gives you many, much more strategic value than just money.

That's the reason the valuation is a little lesser than probably what we would have anticipated, but it's a fair bargain because the kind of the thought process and the strategic value Bosch brings to the table.

Over the period of three years.

2018 April when we launched, right?

We have taken small amount of debt every time whenever we needed it, right?

We have a partner company called iTriangle who kind of supplies the telematics device or the IoT devices.

So kind of we raised entire debt from them.

We did not go outside of them.

No, no.

There is no collateral.

There is an interest rate that we pay them.

Because the money has been borrowed in small instances or small, let's say, intervals every time, we have never given them any collateral against us.

We have paid interest over what we have raised.

What's the interest?

Yes.

So roughly around 7% to 9% interest.

If I go to a typical lender, let's say a bank or a NBFC, non-banking financial corporation, I have to give them collateral.

No, because this was a partner company who we were doing business with.