Regrip, a tyre recycling startup backed by prominent figures including Bollywood actor Suniel Shetty, the Government of Rajasthan, and the Ministry of Electronics and Information Technology (MeitY), has secured $2 million in funding. This significant investment, led by Qatar-based venture capital Sirious One, alongside Inflection Point Ventures and Let's Venture, highlights the growing confidence in Regrip's mission to transform the tyre recycling landscape in India.
The funding round also marks a successful exit for Regrip's initial investor, IIMA Ventures. Additionally, prominent angel investors such as Rikant Pitti, co-founder of EaseMyTrip, Aparna Thyagarajan, co-founder of Shobitam, Vishal Jhunjhunwala, managing partner of Bombay Chemical & Rubber Products, and Mahavir Pratap Sharma, chairman of TIE Angels, have contributed to this round, further bolstering Regrip's position in the market.
Founded by Tushar Suhalka and supported by Suniel Shetty, Regrip aims to establish India's largest network of discarded tyre collection centres. The startup introduces innovative technology, including the world's first solution to predict the life and price of old tyres, akin to 'cashify for old tyres.'
Tushar Suhalka, Founder of Regrip, stated, 'This investment will enable us to expand our technological capabilities and bolster our efforts in building a robust collection network for discarded tyres across the nation.'
Suniel Shetty, the Bollywood actor and investor in Regrip, said, 'We're not just redefining the concept of recycled, safe, economical high-quality tyres, but also contributing to a greener future by reducing waste and maximising the lifecycle of each tyre. By embracing innovation and sustainable practices, we can create a better world for generations to come.'
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