CTL makes its debut on Indian tennis turf on November 15 and the Raptors will play four matches on November 17, November 20, November 21 and November 24, a statement said.
Venus Williams, Feliciano Lopez, Thomas Enqvist and Ramkumar Ramanathan, are part of the team, it said.
Speaking on the occasion, Chandilya said, "This is the first sports venture that my wife Inga and I are getting together as co-owners, and the team is like our fourth child."
A former tennis player himself, Mittu had trained under the legendary Ramesh Krishnan.
"Bangalore has a rich history of tennis, and the Raptors with their strong team will give the city fans a lot to cheer about," Amritraj said.