Home / Companies / News / Auto aftermarket firm myTVS raises Rs 203 cr in funding from Lingotto

Auto aftermarket firm myTVS raises Rs 203 cr in funding from Lingotto

Company earlier got Rs 487 cr from Castrol India for business and technology collaborations

Premium

The funds will be used to scale up its online-to-offline (O2O) business model, expand network, technology, and expand the country’s automotive aftermarket service for two and four-wheeler customers

Shine Jacob Chennai

2 min read Last Updated : Dec 15 2022 | 8:10 PM IST

Automobile aftermarket company myTVS has raised Rs 203 crore from an Exor fund managed by Lingotto, getting the money as part of a Series C funding.

The total Series C fundraising of Rs 690 crore included a combination of Rs 487 crore from Castrol India (Castrol) and Rs 203 crore from the Exor fund. Exor invested about Rs 350 crore in myTVS, which is part of TVS Mobility group, in 2021 and the latest funding increased its stake in myTVS to 11.5 per cent.

In November, myTVS announced the Castrol fundraising would be used for business and technology collaborations. The

Topics : tvs Automobile makers fundings Auto makers automobile industry TVS Motor TVS Group Fundraising Ferrari Auto Brands TVS Automobile Castrol

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in