Presently, the company has 16 outlets in the state which are managed by franchisees, Nagendra Palle, Managing Director, Mahindra First Choice Wheels, said.
In Bengaluru, the company has seven dealers. "In Karnataka, we are going to focus on areas such as Mangaluru, Mysuru, Huballi and Belagavi," he added.
Palle said, the funds that the company raised would go into strengthening marketing, technology support for dealers and developing commercial vehicle franchisees.