Exor has backed the car repair services provider which already counted Mahindra & Mahindra and Mitsubishi as existing shareholders.
TVS Automobile Solutions (MyTVS), the India-based car repair unit of conglomerate TVS Group, has received Rs3.75bn ($50m) of funding from an investment vehicle managed by diversified holding group Exor, according to VCCircle.
MyTVS was founded in 2011 and provides a range of automobile aftermarket services including repairs, maintenance and car cleaning. The business operates more than 20,000 service garages and has over 3 million customers.
The funding will be used to build upon MyTVS’ online-to-offline business model, as well as…
