Private Equity Fund Investments
Auto aftermarket co myTVS raises Rs.375-Cr from European fund Exor
Madurai-based myTVS, a brand that operates under Ki Mobility Solutions (an online-to-offline digital platform), has raised INR 375 crore from a fund managed by Exor, a Europe-based holding company. It will use the funds to scale up its online-to-offline business model, establish a pan-India platform and build a cloud-based digital infrastructure. myTVS is also working on a ‘super app' for its customers who will have access to service requirements ranging from mechanical, collision and maintenance services to diagnostics, roadside assistance and insurance. Similarly, there will be a spare parts platform that will aim at catering to the fragmented service garage market through e-ordering of spare parts and supply chain solutions. This is the second fundraising for myTVS this year. In June, it raised INR 85 crore from tech investors led by Pratithi Investment Trust (represented by its trustee S Kris Gopalakrishnan, co-founder of Infosys) and SeaLink Capital Partners (SCP).
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