TVS ASL raises ₹425 crore Series D
By Abha Lohia ·
- TVS ASL owns the myTVS brand, an automotive aftermarket business that sits inside the $3 billion TVS Mobility Group
- A fresh ₹425 crore Series D came in with CE-Invests, which belongs to UAE group Crescent Enterprises, as the lead
- The money will fuel growth in India and carry its technology-led model abroad, starting with the Middle East and North Africa
What happened
- TVS ASL raised ₹425 crore in a Series D round.
- CE-Invests, the strategic arm of Crescent Enterprises, led the round.
- The funds back growth in India and entry into overseas markets.
- Expansion starts with the Middle East and North Africa.
Why it matters
- It brings a regional partner with deep MENA networks.
- It shows investor appetite for technology-led aftermarket businesses.
- It lifts total funding raised well past ₹1,000 crore.
The business
- TVS ASL runs the myTVS automotive aftermarket brand.
- It is part of the $3 billion TVS Mobility Group.
- Its model is built on technology for mobility and fleet businesses.
Who put in money
- CE-Invests lead — Strategic investment arm of UAE-based Crescent Enterprises
In numbers
₹425 CrSeries D · 2026
What happens next
- Adapt and scale the platform in MENA.
Earlier rounds
- Lingotto (Exor) put in ₹203 crore in 2022.
- Castrol put in ₹487 crore in 2023.
- Series D of ₹425 crore in 2026.
Other articles talking about it
Terms in this story
- Funding stage: Startups raise money in steps called funding stages: pre-seed, seed, Series A, B, C and later, ending in a stock-market listing or a sale. Each step is larger than the last and asks for more proof.
- Series B/C: Series B, C, D and later rounds are growth rounds: large cheques that help a startup with a proven model expand faster, enter new markets or move toward profit and a listing.
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