Reengineered tire startup REGRIP has recently raised $2 million (INR 16.7 Cr) in funding from investors like SiriusOne Capital, Inflection Point Ventures, and LetsVenture. The funding round also involved several angel investors, including Rikant Pitti from EaseMyTrip, Mahavir Pratap Sharma from TIE Angels, and Aparna Thyagarajan from Shobitam.
The investment enabled an exit for REGRIP’s early investor, IIMA Ventures. With this fresh capital, REGRIP plans to focus on technological innovation and expand its network for collecting discarded tires. Additionally, the startup aims to make a positive environmental impact by rejuvenating discarded tires, minimizing waste, and extending their usability.
REGRIP Making Tires Affordable and Eco-Friendly
REGRIP, founded by Tushar Suhalka, creates refurbished tires using high-quality rubber. These tires, made through a process of shearing and retreading, cost only half as much as new ones. They’re particularly popular among small and medium trucking companies.
Suhalka expressed his excitement about the recent investment, stating that it will allow the company to enhance its technology and expand its network for collecting old tires nationwide. He emphasized REGRIP’s mission not only to transform the tire recycling industry but also to make a positive environmental impact.
Suniel Shetty on REGRIP to Make Tires Greener and Longer Lasting
Actor Suniel Shetty, a supporter of REGRIP, believes that using recycled tires is a great way to make our environment healthier and extend the lifespan of tires. He expressed his excitement about being part of REGRIP, stating that they’re not only revolutionizing the idea of safe and affordable recycled tires but also contributing to a cleaner future by reducing waste and making tires last longer. Shetty emphasized the importance of embracing innovation and sustainable practices to create a better world for future generations.
CleanTech Startups Making Waves in India
CleanTech startups in India are attracting significant attention from investors lately. In March, Sprih received $3 million in funding to provide an AI-powered platform helping companies achieve their sustainability goals efficiently. Another startup, Bambrew, secured INR 60 Cr to offer eco-friendly packaging solutions as alternatives to single-use plastics.
Among these, REGRIP stands out for its approach of using quality-grade rubber to create refurbished tires via shearing and retreading. These tires, costing half the price of new ones, are popular among small and medium trucking companies, contributing to both cost savings and environmental sustainability.
Also Read:
Agritech Startup Poshn Secures $6 Mn Funding Led by Prime Ventures and Zephyr Peacock
Cross-Border Payments Platform BRISKPE Bags $5 Mn in Seed Funding
Shark Tank India Sends Legal Notices to Startups Over Pitch Clips
