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Kitara Capital, a Mumbai-based private equity firm, has formed a strategic partnership with MyTVS, a leading digital platform in the automotive aftermarket sector and part of Ki Mobility Solutions Pvt Ltd. Through this collaboration, Kitara Capital will invest ₹100-200 crore to support the expansion of MyTVS’s garage network.
MyTVS has transformed the automotive aftermarket industry with advanced technology. Its integrated systems connect garages, parts suppliers, and end-users, ensuring timely, cost-effective services. The backend infrastructure, including warehouse management and software, allows real-time vehicle monitoring, enhancing the customer experience and fostering loyalty. Unlike other players who focus solely on selling parts, MyTVS has built a complete ecosystem and is now expanding its front-end operations to match the strength of its backend.
“Over the past 15 years, I’ve either worked with or closely observed this group. Their quality, ethics, and operational approach are truly impressive. Building their success is like constructing a cruise ship—it’s not just about assembling parts, but creating something solid and remarkable. The returns look promising. Connecting all the moving parts in this ecosystem is no easy task, but they’ve managed to do it effectively, making this venture a compelling investment,” said Sachin Kamath, Co-Founder and CEO of Kitara Capital, which is already an investor in MyTVS, told businessline.
In the first year, Kitara plans to establish about 100 garages with an investment of ₹100 crore. The company aims to add 100-150 garages annually, with a target of 500 to 1,000 garages over time.
Kamath stated that 10 garages have already been established, with more being added. “It’s a process of constant growth, much like watching election results unfold—steady progress and consistent updates. On one side, we invest funds; on the other, we monitor returns. This cycle reinforces our belief in the model’s potential,” he said.
Broader trend
“This partnership is not just about increasing the number of garages—it’s about scaling an already proven model to new heights,” said G Srinivasa Raghavan, Managing Director of Ki Mobility. “This collaboration is part of a broader trend where stakeholders from outside traditional automotive industries recognize the potential of MyTVS’s business model.”
Each new garage established by Kitara is expected to generate 10 to 15 new jobs. Kitara’s partnership with MyTVS combines investment, technology, and execution, with local entrepreneurs managing the garages while receiving financial backing, operational guidance, and centralised support, including call centres.
Raghavan also pointed out that the involvement of Kitara Capital demonstrates the potential for financial investors to find value in partnering with MyTVS, even without direct industry experience. “This further validates the strength of the MyTVS model and its ability to deliver both credibility and growth opportunities for a variety of stakeholders – from financial investors to entrepreneurs from diverse backgrounds,” he said.
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