Ki Mobility Solutions myTVS raises INR 375 crore from Exor
Ki Mobility Solutions' myTVS, a full-stack online-to-offline digital platform, has received Rs 375 crore from Exor, one of Europe's leading holding companies.
The funds raised will be used to expand its online-to-offline business model. In addition, the company intends to build a pan-India platform and a cloud-based digital infrastructure in order to become the largest B-to-C (Business to Consumer) player in the automotive aftermarket.
TVS Automobile Solutions Private Limited, established in 2011 as a subsidiary of TVS & Sons, is India's largest provider of automotive aftermarket services. The company, which goes by the brand name MyTVS, operates on two core values: trust and relationship.
R Dinesh, Director, TVS Automobile Solutions, says, “We are glad to have Exor as our investment partner, which vindicates myTVS’ positioning as an O-to-O business model. Our end-to-end digital platform provides India’s business entrepreneurs an opportunity to grow in a fragmented market and will bring transparency and organized structure into the aftermarket segment.”
MyTVS is also developing a 'Super app' for its customers, who will be able to access end-to-end service requirements for their vehicles, such as mechanical, collision, and maintenance services, diagnostics, roadside assistance, insurance, and more, via the myTVS app.
Similarly, a Spare parts platform will be launched with the goal of catering to the fragmented service garage market (50,000 independent garages) through e-ordering spare parts and efficient supply chain solutions.
In June of this year, myTVS announced a Rs 85 crore funding round led by Pratithi Investment Trust (represented by its trustee S Kris Gopalakrishnan, co-founder of Infosys) and SeaLink Capital Partners (SCP).
It aims to provide end-to-end solutions to its 3 million customers, 20,000 service garages, 10,000 retailers, and fleets across the country in 270 cities.
Recently, the company acquired Mahindra First Choice Services (MFCS), which was rebranded as myTVS, creating one of the country's largest multi-brand service networks.
This transaction's bankers were Rothschild & Co. For this transaction, Exor was represented by Nishith Desai Associates, and myTVS was represented by Jyoti Sagar Associates.
The funds raised will be used to expand its online-to-offline business model. In addition, the company intends to build a pan-India platform and a cloud-based digital infrastructure in order to become the largest B-to-C (Business to Consumer) player in the automotive aftermarket.
TVS Automobile Solutions Private Limited, established in 2011 as a subsidiary of TVS & Sons, is India's largest provider of automotive aftermarket services. The company, which goes by the brand name MyTVS, operates on two core values: trust and relationship.
R Dinesh, Director, TVS Automobile Solutions, says, “We are glad to have Exor as our investment partner, which vindicates myTVS’ positioning as an O-to-O business model. Our end-to-end digital platform provides India’s business entrepreneurs an opportunity to grow in a fragmented market and will bring transparency and organized structure into the aftermarket segment.”
MyTVS is also developing a 'Super app' for its customers, who will be able to access end-to-end service requirements for their vehicles, such as mechanical, collision, and maintenance services, diagnostics, roadside assistance, insurance, and more, via the myTVS app.
Similarly, a Spare parts platform will be launched with the goal of catering to the fragmented service garage market (50,000 independent garages) through e-ordering spare parts and efficient supply chain solutions.
In June of this year, myTVS announced a Rs 85 crore funding round led by Pratithi Investment Trust (represented by its trustee S Kris Gopalakrishnan, co-founder of Infosys) and SeaLink Capital Partners (SCP).
It aims to provide end-to-end solutions to its 3 million customers, 20,000 service garages, 10,000 retailers, and fleets across the country in 270 cities.
Recently, the company acquired Mahindra First Choice Services (MFCS), which was rebranded as myTVS, creating one of the country's largest multi-brand service networks.
This transaction's bankers were Rothschild & Co. For this transaction, Exor was represented by Nishith Desai Associates, and myTVS was represented by Jyoti Sagar Associates.
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