LivGuard, an automotive battery, inverter battery and solar manufacturer, has raised Rs 170 crore from ChrysCapital and Rs 50 crore from Ncubate Capital Partners (investment arm of the SAR Group) to fuel its expansion plans.
Having revenues of Rs 1400 crore, it aims to be among top 3 integrated energy storage companies in India over the next few years. ChrysCapital, is India’s largest home-grown private equity fund with an AUM of approximately $4 billion, having made over 80 investments in India and delivered over 65 exits.
Started in 2014, LivGuard has 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 a legacy of 30 years. The investment will help LivGuard to further accelerate its growth across all segments through capacity enhancement, moving into electric vehicle lithium battery space, new product development, brand and distribution.
Rakesh Malhotra, Founder & Mentor, LivGuard said, “This investment will accelerate our existing business plans and 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”
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.” Grant Thornton was the financial advisor for this transaction.