About Ascenso
Ascenso is a company based in Mumbai (India) founded in 2001.. Ascenso has raised $65.79 million across 3 funding rounds from investors including Nykaa, International Finance Corporation and Sri Investments. The company has 340 employees as of April 01, 2024. Ascenso has completed 1 acquisition, including Tyres International. Ascenso offers products and services including Agricultural Tyres, Industrial Tyres, and Earth Mover Tyres. Ascenso operates in a competitive market with competitors including Titan International, Alliance Tire Group, Fishfa Rubbers, Magna Tyres and MAXAM Tire, among others.
- Headquarter Mumbai, India
- Employees 340 as on 01 Apr, 2024
- Stage Minicorn
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Sectors
Transportation, Automotive & Logistics
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Phone
*********
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Website
*********
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Social
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- Legal Name Mahansaria Tyres Private Limited
- Date of Incorporation 10 Sep, 2014
- Jurisdiction Mumbai, Maharashtra, India
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Annual Revenue
$121.1 M (USD)12786322.3as on Mar 31, 2023
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Net Profit
$-1.25 M (USD)-8324890.37as on Mar 31, 2023
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EBITDA
$10.1 M (USD)23887266.39as on Mar 31, 2023
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Total Equity Funding
$65.79 M (USD)
in 3 rounds
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Latest Funding Round
$14.86 M (USD), Series C
Feb 08, 2022
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Investors
Nykaa
& 17 more
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Employee Count
340
as on Apr 01, 2024
- Investments & Acquisitions
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Products & Services of Ascenso
Ascenso offers a comprehensive portfolio of products and services, including Agricultural Tyres, Industrial Tyres, and Earth Mover Tyres. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Tyres designed for farming and agricultural vehicles
Tyres for industrial and construction machinery use
Tyres suited for heavy earth moving equipment
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Funding Insights of Ascenso
Ascenso has successfully raised a total of $65.79M across 3 strategic funding rounds. The most recent funding activity was a Series C round of $14.86 million completed in February 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series C — $14.9M
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First Round
First Round
(20 Dec 2019)
- Investors Count 18
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2022 | Amount | Series C - Ascenso | Valuation | Yogesh Agencies & Investment | |
| Jun, 2021 | Amount | Series B - Ascenso | Valuation | Yogesh Agencies & Investment | |
| Dec, 2019 | Amount | Series A - Ascenso | Valuation | Yogesh Agencies & Investment |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Ascenso
Ascenso has secured backing from 18 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Nykaa, International Finance Corporation and Sri Investments. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Family investments are managed by this single family office.
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Founded Year | Domain | Location | |
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IFC is focused on private sector development in emerging markets.
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Ascenso
Ascenso has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Tyres International. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Tyre repair services are provided in the United States.
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1970 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Ascenso
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Ascenso Comparisons
Competitors of Ascenso
Ascenso operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Titan International, Alliance Tire Group, Fishfa Rubbers, Magna Tyres and MAXAM Tire, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Manufacturer and supplier of tires and wheels to OEMs and aftermarket
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| domain | founded_year | HQ Location |
Tyres for off-highway and commercial vehicles are manufactured globally.
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| domain | founded_year | HQ Location |
Produces reclaim rubber from waste tires and tubes for manufacturing industries.
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| domain | founded_year | HQ Location |
Manufactures OTR and industrial tyres for mining, construction, and agriculture worldwide.
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| domain | founded_year | HQ Location |
Manufactures and supplies high-quality tires to various industries.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Ascenso
Frequently Asked Questions about Ascenso
When was Ascenso founded?
Ascenso was founded in 2001 and raised its 1st funding round 18 years after it was founded.
Where is Ascenso located?
Ascenso is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Is Ascenso a funded company?
Ascenso is a funded company, having raised a total of $65.79M across 3 funding rounds to date. The company's 1st funding round was a Series A of $32.33M, raised on Dec 20, 2019.
How many employees does Ascenso have?
As of Apr 01, 2024, the latest employee count at Ascenso is 340.
What is the annual revenue of Ascenso?
Annual revenue of Ascenso is $121.1M as on Mar 31, 2023.
What does Ascenso do?
Ascenso was founded in 2001 in Mumbai, India, as a manufacturer in the tyre industry. A wide range of tyres is produced for various off-highway applications, with customization options provided to meet specific customer needs. Operations focus on expanding into global markets within the off-highway tyre sector, supported by key personnel such as the Director of Operations.
Who are the top competitors of Ascenso?
Ascenso's top competitors include Titan International, Alliance Tire Group and Fishfa Rubbers.
What products or services does Ascenso offer?
Ascenso offers Agricultural Tyres, Industrial Tyres, and Earth Mover Tyres.
How many acquisitions has Ascenso made?
Ascenso has made 1 acquisition, including Tyres International.
Who are Ascenso's investors?
Ascenso has 18 investors. Key investors include Nykaa, International Finance Corporation, Sri Investments, Yogesh Agencies & Investment, and Cubs Family Private Trust.
What is Ascenso's valuation?
The valuation of Ascenso is $265.35M as of Feb 2022.
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