TVS Automobile Solutions raises $44.1 million Series D from Crescent Enterprises

TVS Automobile Solutions, a Chennai-based provider of passenger-car maintenance and repair services founded in 2009, has closed a Series D financing of $44.12 million (about Rs 424 crore). The round is dated 5 October 2026. Data compiled by Tracxn shows the sole named investor as Crescent Enterprises, the UAE investment arm of the Crescent Group.

The raise is the company’s second equity round and the first with a disclosed amount. In November 2020, Mahindra led a Seed investment whose size was not disclosed; a post-money valuation of about $174 million was recorded around that period (as of February 2021). No post-money valuation is attached to the Series D. Total disclosed equity funding now stands at $44.1 million.

Financials on record for the year ended 31 March 2025 show revenue of Rs 1,908.78 crore, up 6% year on year. The company reported a net loss of Rs 181.31 crore and negative EBITDA of Rs 20.04 crore for the same period. The company operates in India’s organised passenger-car aftermarket, offering maintenance and repair services. The company intended to use the funding to support expansion of the myTVS network, among other expenses.

TVS Automobile Solutions' consolidated revenue rose from Rs 1,171 crore (FY21) to Rs 1,909 crore (FY25), but the path was uneven, with a peak of Rs 1,998 crore in FY23, followed by a dip and a modest recovery. Net losses remained substantial every year and widened again in FY25 to Rs 181 crore, after narrowing to Rs 139 crore in FY24.