myTVS Raises ₹425 Crore in Series D Funding as India’s Auto Aftermarket Enters a New Era
myTVS Raises ₹425 Crore in Series D Funding as India’s Auto Aftermarket Enters a New Era
How the TVS-backed automotive aftermarket platform is gearing up for a bigger India and MENA expansion
India’s automotive industry is often associated with new vehicle sales, electric mobility and connected-car technology. But behind every vehicle on the road lies another massive and often overlooked opportunity: the automotive aftermarket.
Vehicles require regular servicing, repairs, spare parts, tyres, batteries, insurance and roadside assistance throughout their lifecycle. As India’s vehicle population continues to grow, the aftermarket is also becoming more organised, technology-driven and competitive.
myTVS wants to be one of the companies leading that transformation.
TVS Automobile Solutions, which operates the myTVS automotive aftermarket business and is part of the TVS Mobility Group, has raised ₹425 crore in Series D funding. The round was led by CE-Invests, the strategic investment arm of UAE-based Crescent Enterprises.
The fresh capital is expected to support myTVS’ expansion in India, accelerate investments in technology and artificial intelligence, and help the company establish a presence in the United Arab Emirates and the wider Middle East and North Africa (MENA) region.
The funding marks an important stage in myTVS’ growth journey. The company is moving beyond simply expanding its domestic automotive service network and is now looking to take its technology-enabled aftermarket model into international markets.
myTVS Funding: Key Highlights
| Particular | Details |
|---|---|
| Company | myTVS / TVS Automobile Solutions |
| Funding Raised | ₹425 crore |
| Funding Round | Series D |
| Lead Investor | CE-Invests |
| Parent Group | TVS Mobility Group |
| Industry | Automotive Aftermarket & Mobility Technology |
| Indian Network | 1,000+ garages |
| Retail Network | 10,000+ retailers |
| Customer Reach | 10 million+ direct and indirect customers |
| Expansion Focus | India, UAE and MENA |
| Technology Focus | AI, diagnostics and predictive maintenance |
Why the ₹425 Crore Funding Matters
The Indian automotive aftermarket remains highly fragmented. Vehicle owners can choose from independent garages, authorised service centres, local mechanics, spare-parts retailers and increasingly digital service platforms.
This fragmentation creates both a challenge and an opportunity.
myTVS is attempting to build a more organised ecosystem by bringing together vehicle owners, garages, spare-parts suppliers, retailers, manufacturers, technology platforms and fleet operators.
The new funding can help the company strengthen this ecosystem across three major areas.
1. Expanding its Indian network
India remains the company’s core market. Additional capital can help myTVS expand its garage and retail footprint while improving the technology connecting these businesses.
2. Investing in AI and technology
The automotive aftermarket is becoming increasingly data-driven. Vehicle diagnostics, connected vehicles, predictive maintenance and digital fleet management can all create new opportunities for technology-led service companies.
3. Entering international markets
The UAE is expected to become an important first step in myTVS’ international expansion, followed by opportunities across the broader MENA region.
What Is myTVS?
myTVS is the automotive aftermarket business operated by TVS Automobile Solutions.
Its services cover several parts of the vehicle ownership lifecycle, including:
- Vehicle servicing and repairs
- Spare parts
- Tyres and batteries
- Vehicle accessories
- Insurance-related services
- Roadside assistance
- Fleet management
- Vehicle diagnostics
- Predictive maintenance
- Digital automotive solutions
The company serves individual vehicle owners as well as fleet operators, businesses and other players within the automotive ecosystem.
Its approach is not limited to operating physical garages. The broader ambition is to create a technology-enabled aftermarket platform that can manage everything from vehicle servicing to diagnostics and maintenance.
AI Could Become a Major Growth Engine for myTVS
One of the most important areas for myTVS going forward could be artificial intelligence and predictive maintenance.
Traditionally, vehicle servicing has largely been reactive. A vehicle develops a problem, the owner takes it to a garage and the issue is diagnosed and repaired.
Technology is changing that model.
With connected vehicles and data-driven diagnostics, it is increasingly possible to identify warning signs before a major mechanical problem occurs.
For fleet operators, this can be particularly valuable. Predictive maintenance can help reduce unexpected breakdowns, improve vehicle utilisation and potentially lower maintenance costs.
myTVS has been building technology capabilities around vehicle management and diagnostics. Its cloud-based vehicle-management platform is designed to support more than 100,000 vehicles and generate more than 100 million data points.
The latest funding could allow the company to further develop these capabilities and integrate AI more deeply into its aftermarket services.
A Network of More Than 1,000 Garages
One of myTVS’ biggest advantages is its physical network.
The company has built a presence of more than 1,000 garages and 10,000 retailers across India, giving it access to a large customer base.
The company says its ecosystem reaches more than 10 million direct and indirect customers.
This physical infrastructure becomes particularly important when combined with technology.
A digital platform by itself cannot repair a vehicle. At the same time, a traditional garage network may struggle to scale efficiently without technology.
myTVS is attempting to combine both.
That combination of physical automotive infrastructure and digital capabilities could become one of the company’s strongest differentiators as the aftermarket becomes more organised.
India’s Automotive Aftermarket Offers a Massive Opportunity
India’s automotive aftermarket is one of the most attractive long-term opportunities in the mobility ecosystem.
The country has a huge and growing vehicle population, and every vehicle creates recurring demand for servicing, repairs, replacement parts, tyres, batteries and other services.
The aftermarket is also relatively fragmented, leaving significant room for organised platforms to improve customer experience and standardise service quality.
For myTVS, this creates an opportunity to build a nationwide ecosystem connecting vehicle owners with garages, retailers, manufacturers and technology providers.
The company’s expansion strategy therefore goes beyond opening more service centres.
It is about creating an integrated aftermarket platform.
myTVS Sets Its Sights on the UAE and MENA
The next major chapter of the company’s growth could come outside India.
myTVS plans to establish a presence in the United Arab Emirates, with the broader MENA region representing a potential expansion opportunity.
The UAE is an attractive market for automotive aftermarket businesses because of its large vehicle population, strong commercial activity and growing demand for fleet and mobility services.
For myTVS, entering the UAE can also provide a potential gateway to other markets across the Middle East and North Africa.
However, international expansion also brings new challenges.
The company will need to understand local consumer behaviour, regulations, service networks, vehicle preferences and competitive dynamics.
Its partnership with CE-Invests could become particularly important in this phase.
Crescent Enterprises Brings More Than Capital
CE-Invests, the investment arm of Crescent Enterprises, is leading myTVS’ latest funding round.
The partnership could provide myTVS with more than financial capital.
Crescent Enterprises has regional business relationships and market knowledge that could potentially support myTVS as it enters the UAE and explores the wider MENA market.
For a company expanding internationally for the first time at scale, local knowledge can be as important as funding.
The partnership therefore gives myTVS an opportunity to combine its Indian automotive aftermarket expertise with regional networks and market understanding.
myTVS Has Raised More Than ₹1,000 Crore Across Major Funding Rounds
The latest ₹425 crore Series D round is not myTVS’ first major fundraising milestone.
The company has previously raised significant capital from strategic and institutional investors.
Its major funding rounds include approximately ₹203 crore from Lingotto in 2022, followed by around ₹487 crore from Castrol in 2023.
With the latest ₹425 crore Series D funding, the company has raised approximately ₹1,115 crore across these major funding rounds.
The continued investor interest highlights the growing importance of organised automotive aftermarket platforms in India.
A Profitable Business Entering Its Next Growth Phase
Another important aspect of myTVS’ latest funding is its financial progress.
The company has reached EBITDA breakeven in FY26, giving it a stronger foundation as it enters its next stage of expansion.
The company is also targeting strong near-term growth, with expectations of around 25–35% growth.
Achieving profitability while continuing to invest in technology and expansion can give myTVS greater flexibility compared with businesses that depend entirely on external capital to fund operations.
The Series D funding can therefore be viewed not simply as a capital infusion, but as growth capital for the company’s next phase.
The Automotive Aftermarket Is Becoming a Technology Business
The traditional image of the automotive aftermarket is changing.
Earlier, the industry was primarily driven by mechanics, workshops and spare-parts suppliers.
Today, technology is becoming increasingly important.
Connected vehicles generate enormous amounts of data. Digital platforms can help customers locate service providers. AI can assist with diagnostics. Predictive maintenance can identify potential failures. Fleet-management platforms can monitor vehicle performance in real time.
Electric vehicles will add another layer of complexity.
As vehicle technology evolves, the aftermarket will need technicians, infrastructure and software capable of handling increasingly sophisticated vehicles.
This creates a significant opportunity for companies such as myTVS that operate at the intersection of automotive services, technology and data.
What Comes Next for myTVS?
The ₹425 crore Series D funding gives myTVS several clear growth priorities.
Expanding across India
The company can continue strengthening its garage and retail network while increasing customer penetration.
Building AI capabilities
Investment in AI-powered diagnostics and predictive maintenance could become an important growth driver.
Expanding into the UAE
The UAE is expected to be an important starting point for myTVS’ international ambitions.
Entering the wider MENA market
Once the company establishes its operating model in the UAE, it could explore opportunities across other MENA markets.
Building a global mobility-services platform
The larger ambition appears to be creating a technology-led automotive aftermarket platform rather than remaining a traditional vehicle-service company.
Key Takeaways
- myTVS has raised ₹425 crore in Series D funding.
- The round was led by CE-Invests, the investment arm of Crescent Enterprises.
- The company plans to strengthen its AI and technology capabilities.
- myTVS is targeting expansion into the UAE and wider MENA region.
- The company has a network of 1,000+ garages and 10,000+ retailers.
- myTVS has reached EBITDA breakeven in FY26.
Conclusion: myTVS Is Moving Beyond the Garage
The ₹425 crore Series D funding marks a significant milestone for myTVS and the broader Indian automotive aftermarket.
With more than 1,000 garages, 10,000 retailers and over 10 million direct and indirect customers, the company already has a substantial operating base in India.
Now, it is looking to take the next step.
The combination of AI, vehicle diagnostics, predictive maintenance, digital platforms and physical service infrastructure could fundamentally change how vehicle owners and fleet operators manage maintenance.
At the same time, the company’s planned entry into the UAE and wider MENA region gives the latest funding round an international dimension.
For myTVS, the journey is no longer simply about running more garages.
It is about building a technology-driven automotive aftermarket ecosystem that can serve vehicles, customers and businesses across markets.
And with ₹425 crore of fresh capital behind that ambition, myTVS is positioning itself for a much bigger role in the future of mobility services.
Written By
Manisha
