New Delhi, April, 2019
LivGuard, India’s fastest growing automotive battery, inverter battery and solar manufacturer, has raised over Rs 170 crores from ChrysCapital and Rs 50 crores from Ncubate Capital Partners (investment arm of the SAR Group) to fuel its ambitious expansion plans and become a top 3 integrated energy storage company in India over the next few years. ChrysCapital, is India’s largest home-grown private equity fund with an AUM of approximately $4 bn, having made 80+ investments in India and delivered over 65 exits.
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. 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.
Speaking on the occasion Mr. Rakesh Malhotra, Founder & Mentor, LivGuard said, “We are thrilled about ChrysCapital investing and is a testament of what we have already achieved to set a strong foundation for future. 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”
Speaking on the investment Mr. Navneet Kapoor, Chairman & Co- Founder, LivGuard said, “With this strategic funding, we are looking forward to augment innovation and technology to scale up our product portfolio and manufacturing across the country.”
Commenting on the announcement Mr. Gurpreet Singh Bhatia, CEO, LivGuard said, “The investment is crucial for us to build the brand, distribution thereby ensuring a sustained accelerated growth.”
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.”
Grant Thornton was the exclusive financial advisor for this transaction.