myTVS raises Rs 425 crore from UAE's Crescent Enterprises, eyes Gulf expansion
Representative image: RyanMcGuire / Pixabay
TVS Automobile Solutions, owner of car-service brand myTVS, raised Rs 425 crore in a Series D round led by UAE-based Crescent Enterprises to grow in India and enter MENA.
What Happened
TVS Automobile Solutions (TVS ASL), the company behind the myTVS vehicle service and spare parts brand, has raised Rs 425 crore in a Series D funding round led by CE-Invests, the strategic investment arm of UAE-based Crescent Enterprises. The deal was announced on October 5, 2026. The two companies described it as a strategic partnership: the money is meant first to expand myTVS's service network and technology in India, and then to take its model into the United Arab Emirates and the wider Middle East and North Africa (MENA) region, with Crescent Enterprises contributing regional knowledge and business contacts.
Key Facts
- Round size: Rs 425 crore (about $44-45 million at reported conversions), a Series D led by CE-Invests.
- The company says myTVS reached EBITDA breakeven in the 2025-26 financial year.
- It expects its business to grow by about 25% to 35% in the near term.
- Funds will go towards expanding the physical service network in India and building AI-enabled diagnostics and predictive maintenance tools.
- The UAE has been identified as the first entry point for MENA, where the partners will adapt the myTVS model for mobility and fleet businesses.
- Before this round, myTVS had raised about Rs 690 crore: Rs 203 crore from Lingotto, owned by Exor, in 2022, and Rs 487 crore from Castrol in 2023.
Why It Matters
India's vehicle aftermarket is the business of servicing, repairing and supplying parts for vehicles once they leave the showroom. Much of it is still served by independent local garages, and organised players such as myTVS are trying to win customers with standardised service, technology-led diagnostics and a branded network.
The round stands out for two reasons. First, it comes after the company says it has reached operating breakeven, which is less common among consumer service platforms and makes the business easier to value. Second, the money comes from a Gulf investor with a clear plan to take an Indian business model abroad. That is a different pattern from the usual flow of foreign capital into India, where investors fund growth only in the domestic market.
For investors watching the sector, the deal is a sign that strategic money from the Gulf is looking for Indian companies that can serve markets in the Middle East, where the partners see room for an organised service model aimed at mobility and fleet businesses. For Indian founders, it shows that a profitable, operations-heavy business can still attract large late-stage rounds even when overall start-up funding is weak.
The company has also mentioned building towards being ready for public markets in time. It has not given a timeline, but breakeven, a strong backer and a cross-border growth story are the kind of building blocks that companies typically assemble ahead of a listing.
| Funding | Investor | Amount |
|---|---|---|
| 2022 round | Lingotto (Exor) | Rs 203 crore |
| 2023 round | Castrol | Rs 487 crore |
| 2026 Series D | CE-Invests (Crescent Enterprises) | Rs 425 crore |
Impact
Short-term: More myTVS service points and investment in diagnostic technology in India, and early work with Crescent Enterprises on entering the UAE.
Long-term: If the MENA expansion works, myTVS could become one of the few Indian vehicle-service brands operating abroad, and the deal could encourage more Gulf strategic investors to back Indian businesses with regional ambitions.
Who is affected: Vehicle owners using myTVS services, independent garages that compete or partner with the platform, auto parts suppliers, fleet operators in the UAE, and investors tracking the aftermarket sector.
Key Takeaway
myTVS's Rs 425 crore round shows Gulf strategic investors backing a profitable Indian service business not just for India, but as a platform to enter the Middle East.
Questions and Answers
What is myTVS?
It is a vehicle service, repair and spare parts brand owned by TVS Automobile Solutions, which is investing in a wider service network and AI-enabled diagnostics.
Who invested in myTVS and how much?
CE-Invests, the investment arm of UAE-based Crescent Enterprises, led a Rs 425 crore Series D round, announced on October 5, 2026.
What will the money be used for?
To expand the service network in India, build AI-enabled diagnostics and predictive maintenance tools, and enter the MENA region starting with the UAE.
Is myTVS profitable?
The company says it reached EBITDA breakeven, meaning operating earnings covered operating costs, in the 2025-26 financial year, and it expects 25% to 35% growth in the near term.
Disclaimer: Prepared by the Peepals newsroom from publicly available sources with AI assistance. Information is accurate to the best of our knowledge at the time of publication and may change. Images may be representative. Not professional advice. Report an error via our contact page.
Sourced and fact-checked by the Peepals Global Editorial Team
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Reported, fact-checked and published by the Peepals Global Editorial Team.
