Reengineered Tire Startup REGRIP Secures $2 Million in Funding Led by SiriusOne Capital

Funding Alert

Recycled tire startup REGRIP has successfully raised $2 million (INR 16.7 million) in a funding round co-led by SiriusOne Capital, Inflection Point Ventures and LetsVenture.

The funding round saw enthusiastic participation from prominent angel investors, including Rikant Pitti, co-founder of EaseMyTrip, Mahavir Pratap Sharma, chairman of TIE Angels, and Aparna Thyagarajan, co-founder of Shobitam, among others.

Notably, this funding also marks the exit of first investor IIMA Ventures from REGRIP.

This capital injection will support REGRIP’s technological advancement and facilitate the expansion of its end-of-life tire collection network across the country. The startup’s mission is not only to revolutionize the tire recycling industry, but also to have a tangible impact on the environment.

Expressing his excitement, founder Tushar Suhalka said, “This investment will enable us to expand our technological capabilities and strengthen our efforts in building a robust end-of-life tire collection network across the country. Our goal is not only to revolutionize the tire recycling industry, but also to make a significant impact on the environment.

Actor Suniel Shetty, a supporter of REGRIP, highlighted the importance of such initiatives and said, «The idea of ​​recycled tires will not only ensure a greener ecosystem but also improve the life cycle of tyres.»

REGRIP uses quality rubber to produce retreaded tires through a shearing and retreading process. These tires cost half the price of new products and cater to small and medium haulers.

India’s cleantech sector has recently attracted considerable investor interest. Earlier this year, Sprih secured $3 million in funding for its AI-powered sustainability platform, which aims to help companies achieve their environmental goals. Similarly, Bambrew has secured INR 60 million to offer eco-friendly packaging solutions as alternatives to single-use plastics.

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