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myTVS Secures ₹425 Cr Funding for Global Expansion
5 Oct
Summary
- TVS Automobile Solutions secured ₹425 crore in Series D funding.
- Investment led by UAE's Crescent Enterprises via CE-Invests.
- Funds will fuel expansion in India and MENA regions.
TVS Automobile Solutions (TVS ASL), operating under the automotive aftermarket brand 'myTVS,' announced on Monday it has secured ₹425 crore in Series D funding. The round was spearheaded by CE-Invests, the investment arm of UAE-based Crescent Enterprises, signaling strong confidence in myTVS's technology-driven platform.
This investment will bolster myTVS's expansion efforts within India and accelerate its entry into international markets. The company plans to initially focus on opportunities across the Middle East and North Africa (MENA) region, leveraging its scalable model. myTVS has previously raised approximately ₹690 crore.
The partnership with CE-Invests is poised to leverage myTVS's established technology and capabilities in the automotive aftermarket across the MENA region. Conversely, CE-Invests brings crucial regional market insights and business networks to support myTVS's global ambitions.
