Petromin completed the investment in SpareIt.

Petromin, a Saudi Arabian lubricants and automotive services company, completed the investment in SpareIt, an Indian auto-tech platform. Financial terms were not disclosed. "Investment in SpareIt® marks a cornerstone for Petromin’s business development in India. We intend to increase our penetration in the region and believe that a tech-enabled approach is key to build a scalable and sustainable business across the various verticals of Petromin. During our study of the market and screening opportunities in India, SpareIt® stood out with its vision, rapid execution ability and maturity, along with the drive of its founders, making it an ideal addition to NAP’s profile," Sanjay Nigam, Petromin Managing Director.