This investment will help the company accelerate its existing business plans and develop future technologies
LivGuard – India’s leading automotive battery, inverter battery and solar manufacturer – has raised over Rs 170 crore from ChrysCapital and Rs 50 crore from Ncubate Capital Partners (investment arm of the SAR Group) to fuel its ambitious expansion plans.
The company is hoping to become a top 3 integrated energy storage company in India over the next few years.
Started in 2014, LivGuard has already established itself as a strong player in the energy solution space in India and global markets. The brand operates under the SAR Group, which has an incredible legacy of 30 years. LivGuard has built a comprehensive product portfolio of inverters/inverter batteries, automotive batteries, stabilizers and solar batteries.
With this investment, LivGuard is aiming to further accelerate its growth across all segments through capacity enhancement. It plans to move into electric vehicle lithium battery space, enhance product portfolio and build stronger distribution network.
“This investment will accelerate our existing business plans and help develop future technologies. Since, there is a space for strong player in the market, this investment will help us to grow further in this sector,” said Rakesh Malhotra, Founder & Mentor, LivGuard.
Navneet Kapoor, Chairman & Co- Founder, LivGuard, added, “With this strategic funding, we are looking forward to augment innovation and technology to scale up our product portfolio and manufacturing across the country.”
ChrysCapital – India’s largest home-grown private equity fund
Founded in 1999, ChrysCapital is one of the largest and most established India-focused private equity firms with approximately $4 billion AUM across eight funds. It has made 80+ investments in India and delivered over 65 exits.
Commenting on the investment, Raghav Ramdev, Director, ChrysCapital, said, “ChrysCapital is excited to partner with LivGuard in its journey to become a leading battery manufacturer. LivGuard has scaled well over the past few years and has built a strong pan-India distribution network along with an excellent manufacturing footprint.”
