TVS ASL raises INR 425 Crore in Series D funding led by CE-Invests

TVS Automobile Solutions (TVS ASL), the owner of the myTVS automotive aftermarket brand and part of the $3 billion TVS Mobility Group, has raised INR 425 crore in a Series D funding round led by CE-Invests, the strategic investment arm of UAE-based Crescent Enterprises. The investment will support myTVS’ continued expansion in India and its entry into international markets, with an initial focus on the Middle East and North Africa (MENA) region.

The funding underscores CE-Invests’ interest in myTVS’ technology-led, scalable automotive aftermarket platform, which integrates digital capabilities with a physical service network. Over the years, myTVS has established itself as a preferred partner to original equipment manufacturers (OEMs) and electric vehicle (EV) manufacturers in India, offering customers and fleet operators a broad portfolio of vehicle servicing and maintenance solutions.

Having achieved EBITDA breakeven in FY26, myTVS expects its business to grow by approximately 25–35% in the near term. The company is stepping up investments in artificial intelligence (AI) and technology to support this projected growth, improve platform scalability and strengthen its capabilities for the next phase of expansion.

Beyond India, the partnership will explore opportunities across MENA, where both companies see potential to adapt and scale myTVS’ technology and operational capabilities for mobility and fleet businesses. While myTVS brings an established automotive aftermarket platform, CE-Invests contributes regional market understanding and business networks to help identify and develop new opportunities, including a stronger presence in the UAE.

“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 of Crescent Enterprises.

R. Dinesh, Director, TVS Automobile Solutions Ltd. said, “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.”

Tushar Singhvi, Deputy CEO and Head of Investments at Crescent Enterprises, said the platform had demonstrated its ability to improve service quality, transparency and vehicle uptime at scale, adding that the investment aligned with CE-Invests’ strategy of backing established businesses with proven operating models and cross-regional growth potential.

The latest funding follows approximately ₹690 crore raised previously by myTVS, comprising ₹203 crore from Lingotto (Exor) in 2022 and ₹487 crore from Castrol in 2023. With fresh capital and a strategic regional partner, TVS ASL is positioning myTVS for its next phase of technology-led growth across India and MENA.