Sunil Shetty Backed startup Regrip bags $2 million in a Fresh Funding round
Bollywood star Sunil Shetty backed tyre recycling startup, Regrip has just secured $2 million in a fresh funding round. The startup is also backed by the Government of Rajasthan, and the Union Ministry of Electronics and Information Technology (MeitY).
The funding round also witnessed the participation of Qatar-based venture capital Sirious One along with Inflection Point Ventures and Let's Venture. The round also gave an exit to REGRIP’s early investor, IIMA Ventures.
The startup was founded by Tushar Suhalka, who is aiming to build a strong network of discarded tyre collection centres.
In a media statement the company said, "The raised funds will fuel the expansion of this innovative technology deployment with tyre companies and further enhance Regrip's collection network for discarded tyres. With this infusion of capital, Regrip aims to accelerate its impact on the environment by revitalizing discarded tyres, reducing waste,and maximizing their lifespan."
Eminent angel investors like Rikant Pitti, the founder of EaseMyTrip, Aparna Thyagarajan, the co-founder of Shobitam, Vishal Jhunjhunwala, the Managing Partner of Bombay Chemical & Rubber Products, and Mahavir Pratap Sharma, the Chairman of TIE Angels have also joined the and brightened up the funding round.
The founder of Regrip, Tushar Suhalka said, "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. Our goal is not just to revolutionize the tyre recycling industry but also to make a significant impact on the environment."
The startup is targeting to develop world’s first solution to predict the life and price of old tyres just like you can cashify your old tyres. The freshly received funding will help the company to develop innovative technology with the tyre companies and they also want to strengthen its collection network.
Sunil Shetty is very delighted and excited about their partnership and commented, "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 maximizing 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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The funding round also witnessed the participation of Qatar-based venture capital Sirious One along with Inflection Point Ventures and Let's Venture. The round also gave an exit to REGRIP’s early investor, IIMA Ventures.
The startup was founded by Tushar Suhalka, who is aiming to build a strong network of discarded tyre collection centres.
In a media statement the company said, "The raised funds will fuel the expansion of this innovative technology deployment with tyre companies and further enhance Regrip's collection network for discarded tyres. With this infusion of capital, Regrip aims to accelerate its impact on the environment by revitalizing discarded tyres, reducing waste,and maximizing their lifespan."
Eminent angel investors like Rikant Pitti, the founder of EaseMyTrip, Aparna Thyagarajan, the co-founder of Shobitam, Vishal Jhunjhunwala, the Managing Partner of Bombay Chemical & Rubber Products, and Mahavir Pratap Sharma, the Chairman of TIE Angels have also joined the and brightened up the funding round.
The founder of Regrip, Tushar Suhalka said, "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. Our goal is not just to revolutionize the tyre recycling industry but also to make a significant impact on the environment."
The startup is targeting to develop world’s first solution to predict the life and price of old tyres just like you can cashify your old tyres. The freshly received funding will help the company to develop innovative technology with the tyre companies and they also want to strengthen its collection network.
Sunil Shetty is very delighted and excited about their partnership and commented, "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 maximizing the lifecycle of each tyre. By embracing innovation and sustainable practices, we can create a better world for generations to come."
