TVS Automobile Solutions has raised Rs 425 crore in a Series D round. CE-Invests, the strategic investment arm of UAE-based Crescent Enterprises, led the round. The company owns the myTVS automotive aftermarket brand and is part of the USD 3 billion TVS Mobility Group.
The money is meant for two things. The first is growth in India. The second is a move outside it, starting with the Middle East and North Africa.
What myTVS does
Over the years, myTVS has built a platform that combines digital tools with a physical service network. It works with original equipment manufacturers and electric vehicle makers in India. Car owners and fleet operators use the network for service and maintenance.
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The company is now raising its spending on AI and technology to support that network as it scales, according to its statement.
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A business that has just turned the corner
myTVS reached EBITDA breakeven in FY26. Management expects the business to grow by about 25 to 35 per cent in the near term.
The Gulf partner is not just a source of capital. Crescent Enterprises is based in the UAE. That is the first market TVS ASL wants to enter outside India, so the partner brings local reach from the start.
Badr Jafar, chief executive of Crescent Enterprises, tied the deal to the wider UAE-India relationship. He said the strongest economic corridors move technology, ideas and operating expertise in both directions, not just money.
R. Dinesh, a director of TVS ASL, signed off on the transaction for the Indian side.
Money it has raised before
This is not the company’s first large cheque. Before the Series D, myTVS had raised about Rs 690 crore. That included Rs 203 crore from Lingotto, the Exor investment arm, in 2022, followed by Rs 487 crore from Castrol in 2023.
The round matters for a market that has been consolidating for years. India’s car service and spare parts business has drawn steady investor interest. Older vehicles, growing fleets and rising EV sales are widening the market. Organised chains have been taking share from standalone workshops. The Series D gives TVS ASL fresh capital for that fight, plus a partner who can open doors in the Gulf.