- Briefing Your roundup of Asian tech and startup news that matter
Kul Bhushan · · 1 min readIndian automotive solutions platform nets $50m in funding
“MyTVS, an online to offline automotive solutions company, has raised 3.75 billion rupees (US$50 million) from a fund managed by Exor,” VCCircle reports.
Details
- MyTVS plans to use the capital to scale up its online to offline business model to build a pan-India platform. It also plans to further improve its cloud-based digital infrastructure.
- The company is reportedly working on a ‘super-app’ to offer related services such as diagnostics, roadside assistance, and insurance at one place.
Dive deeper
- MyTVS operates under Ki Mobility Solutions and is also part of the Indian two-wheeler firm TVS Group. It caters to 3 million customers and has onboarded 20,000 service garages, and 10,000 retailers and fleets.
- In June this year, Ki Mobility had raised 850 million rupees (US$11 million) from tech investors led by Pratithi Investment Trust and SeaLink Capital Partners.
Currency converted from Indian rupee to US dollar: US$1 = 74.21 rupees.
Editing by Collin Furtado
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
