Crescent Enterprises invests US$45 million in TVS Automobile Solutions to expand myTVS across MENA
The strategic partnership will accelerate the technology-led automotive aftermarket platform's growth in the UAE and wider region, leveraging UAE-India economic corridors.
Crescent Enterprises and TVS Automobile Solutions have announced a transformative strategic partnership, with Crescent’s investment platform CE-Invests leading a US$45 million Series D funding round for the latter. The investment marks a significant milestone in expanding myTVS, an integrated automotive aftermarket brand, across the Middle East and North Africa region and India.
myTVS operates a sophisticated digital-first model combined with extensive physical infrastructure, comprising over 1,000 garages and 10,000 retailers across India. The platform serves more than 10 million customers and has established itself as a trusted partner to original equipment manufacturers, electric vehicle producers and corporate fleet operators. The company manages a cloud-based vehicle management system generating over 100 million data points, enabling real-time diagnostics and predictive maintenance across more than 100,000 vehicles.
The investment will support myTVS’ expansion strategy in two directions: deepening its presence in India through an extended service network and advancing artificial intelligence-enabled diagnostic and maintenance capabilities, whilst simultaneously establishing operations in the UAE and broader MENA markets.
Badr Jafar, Chief Executive of Crescent Enterprises, emphasised the investment’s significance within the evolving UAE-India economic relationship. He highlighted how capital flows between the two nations increasingly carry technology, innovation and operational expertise, creating reciprocal value across markets.
The timing proves auspicious for MENA expansion. India’s automotive aftermarket, currently representing only 3 per cent of the global market, is forecast to reach approximately US$14 billion by 2028, whilst the UAE’s aftermarket is projected to expand from US$3.9 billion in 2026 to US$4.5 billion by 2028. The fleet-management segments targeted by myTVS represent an estimated US$1.7 billion opportunity, with commercial vehicles accounting for approximately 70 per cent of demand.
R. Dinesh, Director of TVS Automobile Solutions Ltd., stated that the investment validates myTVS’ technology-led platform approach and positions the company for sustained profitable growth across multiple markets. Tushar Singhvi, Deputy Chief Executive and Head of Investments at Crescent Enterprises, confirmed the partnership aligns with CE-Invests’ strategy of backing well-governed businesses with proven models capable of expansion across the MENA-Asia corridor.
This transaction enhances Crescent Enterprises’ investment portfolio across MENA and Asia, complementing its backing of businesses including Flipspaces, FreshToHome and Distil. Through CE-Invests’ AED 1 billion deployment programme, the company partners with established enterprises where long-term capital and regional capabilities support defined growth phases.
Source: WAM