TVS Automobile Solutions Raises Rs.425 Crore in a Series D
TVS Automobile Solutions (TVS ASL), which owns the ‘myTVS’ automotive aftermarket brand and is part of the $3 billion TVS Mobility Group, announced that it has secured Rs.425 crore in a Series D funding round led by CE-Invests, the strategic investment division of UAE-based Crescent Enterprises.
The investment demonstrates CE-Invests’ significant interest in the scalable, technology-driven platform model that TVS ASL has developed with myTVS in India. Over time, myTVS has created a unified automotive aftermarket platform that merges digital features with a physical service network and has made a name for itself as a favored partner to OEMs and EV manufacturers in India.
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This allows customers and fleet managers to obtain a wide variety of vehicle service and maintenance options.
myTVS reached EBITDA break-even in FY26 and anticipates its business will expand by around 25–35 percent shortly. The firm is ramping up investments in AI and technology to facilitate this growth, enhance the scalability of its platform, and develop the skills necessary for its upcoming stage of expansion.
Before the latest funding round, myTVS had secured about Rs.690 crore, which included Rs.203 crore from Lingotto (Exor) in 2022 and Rs.487 crore from Castrol in 2023. The funding from CE-Invests will aid myTVS in sustaining its growth in India and allow it to expand its technology-driven model into global markets. The collaboration will initially emphasize prospects in the Middle East and North Africa (MENA), where the firms recognize the potential to modify and expand myTVS’ technology and functionalities for transportation and fleet enterprises.
“Built over generations of trade, enterprise and human connection, the UAE–India relationship is becoming ever more important – not only to both countries, but to economic growth across MENA, Asia and beyond,” says Badr Jafar, chief executive officer of Crescent Enterprises.
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R. Dinesh, Director, TVS Automobile Solutions Ltd., says, “We are delighted to have CE-Invests as an investor. myTVS has scaled up its technology-led services and parts platform to serve the end customer directly and by working with various corporate partners and vehicle manufacturers in India”.
“This investment is a further proof that this technology-led platform is capable of delivering a similar experience in other markets. This will further enable the company to scale up its operations in India and the MENA region and continue to maintain its profitable growth. This partnership will only further increase its rate of growth, and CE Invests is the perfect partner for the Middle East”.
For CE-Invests, this collaboration offers a chance to utilize myTVS' proven technology infrastructure and expertise in the automotive aftermarket within the Middle East, which harbors considerable potential for technology-driven mobility solutions. For myTVS, CE-Invests offers profound regional market insight and business connections that can aid in discovering and cultivating new opportunities throughout MENA.
“myTVS has demonstrated that an integrated, technology-enabled platform can bring meaningful improvements in service quality, transparency and vehicle uptime at scale,” says Tushar Singhvi, Deputy CEO and Head of Investments at Crescent Enterprises.
myTVS is a unified, multi-branded automotive aftermarket platform that merges digital features with a tangible service network to provide comprehensive, affordable vehicle service and maintenance options. It provides an extensive array of automotive aftermarket services covering vehicle repairs and maintenance, components, accessories, tires, batteries, insurance, and on-demand roadside support. Its technology platform allows customers and fleet operators to utilize integrated vehicle service and maintenance solutions by merging physical network capabilities with digital interventions.
NAFA Sustainable Finance (NAFA SF) served as the financial consultant to TVS Automobile Solutions during its capital raising, having designed, organized, and delivered comprehensive advisory services.
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Ameya Prabhu, CEO, NAFA Group and Director, NAFA SF, says, “We are pleased to have advised TVS Automobile Solutions on this strategic capital raise and to have facilitated the partnership with CE-Invests. We believe this provides a strong platform for myTVS to accelerate its growth in India while exploring opportunities for expansion in the MENA region. We congratulate both teams on the successful transaction and look forward to seeing the partnership create significant value in the years ahead.”