TVS Group’s car maintenance wing myTVS raises ₹375 crore to expand its network across India

• TVS Automobile had acquired Mahindra First Choice, which has been rebranded as myTVS.
• The company offers car maintenance and repair services to retailers, service garages and fleet operators post the purchase.
• myTVS is looking to build a ‘super app’ to offer all car maintenance-related services in one app.

myTVS, a subsidiary of TVS Group’s digital unit Ki Mobility Solutions, has raised ₹375 crore from a fund managed by Europe-based Exor. The company plans to use this finding to scale its online-to-offline business model and expand its presence across India.

myTVS focuses on offering car maintenance and repair services to retailers, service garages and fleet operators post the purchase of vehicles. The company aims to offer its solutions to 3 million customers, 20,000 service garages, 10,000 retailers and fleets in 270 cities across the country.

Ki Mobility Solutions was launched by TVS Automobile Solutions, a part of the automotive giant TVS Group, earlier in June. TVS Automobile Solutions also acquired Mahindra First Choice Services Limited (MFCSL) in November 2020, which has been brought under the Ki Mobility banner and rebranded as myTVS.

Mahindra First Choice had a network of 475 franchise partners, 100 distributors in over 350 towns across 27 states and union territories.

Ki Mobility Solutions, through myTVS, is now looking to build a ‘super app’ to offer greater access to end-to-end service requirements for its customers. These services would range from mechanical, diagnostics, roadside assistance, insurance and maintenance services.

A part of the latest funding would also be used to build its cloud-based digital infrastructure to establish its lead in the after-purchase automotive market in business-to-consumer (B2C) space.

Besides this, the company is also looking to launch a spare parts platform that will cater to the currently largely unorganised service garage market. It will allow online ordering of spare parts and delivery through efficient supply chain solutions.

"Our end-to-end digital platform provides India’s business entrepreneurs’ an opportunity to grow in a fragmented market and will bring transparency and organised structure into the aftermarket segment,” R. Dinesh, director at TVS Automobile Solutions, said in a statement.

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