TVS ASL secures Rs 425 crore from CE-Invests

CHENNAI: TVS Automobile Solutions (TVS ASL), the owner of the 'myTVS' automotive aftermarket brand, on Monday said it has raised Rs 425 crore in a funding round led by CE-Invests, the strategic investment arm of UAE-based Crescent Enterprises.

The Series D funding will support myTVS' continued growth in India while enabling it to take its technology-led model into international markets, a statement said.

The partnership will initially focus on opportunities across the Middle East and North Africa (MENA), where the companies see potential to adapt and scale myTVS' technology and capabilities for mobility and fleet businesses, it added.

Prior to the current round, myTVS had raised approximately Rs 690 cr, comprising Rs 203 cr from Lingotto (Exor) in 2022 and Rs 487 Cr from Castrol in 2023.

For CE-Invests, this partnership provides an opportunity to leverage myTVS' established technology platform and capabilities in the automotive aftermarket in the Middle East where there is a significant potential for technology-led mobility solutions, the statement said.

myTVS achieved EBITDA breakeven in FY26 and expects its business to grow by 25-35% in the near term, it shared.

The company is accelerating investments in AI and technology to support this growth, strengthen the scalability of its platform and build the capabilities required for its next phase of expansion.

"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," said Badr Jafar, CEO, Crescent Enterprises.

R Dinesh, director, TVS ASL said 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 further proof that this technology-led platform is capable of delivering a similar experience in other markets," he said.