REGRIP secures $2M in seed funding led by SiriusOne Capital

May 08, 2024•over 1 year ago

Amount Raised

$2 Million

Round Type

seed

GurgaonManufacturing

Investors

Iima VenturesAparna ThyagarajanMahavir Pratap SharmaRikant PittiLets VentureInflection Point VenturesSirius One Capital

Description

REGRIP, a reengineered tyre startup, has raised $2 million in a seed funding round co-led by SiriusOne Capital, Inflection Point Ventures, and LetsVenture. The funding will be utilized to propel technological advancements and expand the collection network for discarded tyres across the country.

Company Information

Company

Regrip

Location

Gurgaon, Haryana, India

About

At REGRIP we are creating India's first re-engineered tyre brand. Regrip tyres are the high performing alternative of the new tyres for the dummy and drive axles in heavy commercial vehicles. Regrip helps fleet owners in saving huge money on their tyre consumption with an affordable, reliable and sustainable product range. REGRIP tyres are made from refurbishing the old & used tyres using cold process retreading and converting them into reusable tyres which are equally serviceable as new tyres and come with an unconditional warranty at half the cost of new tyres. As our core values are based on "REDUCE - REENGINEER - REUSE" we are also minimising the carbon footprints as it takes 22 gallons of oil to make one new average size truck tyre whereas we only use about 7 gallons to have it re-engineered for reuse thus every REGRIP tyre saves 56 litres of oil for the nation.

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