Private Equity

VC Fund Investments

Refurbished tyres maker REGRIP raises $2-M; CIIE to exit

Inc42   REGRIP  

Gurugram-based re-engineered tyre startup REGRIP has raised USD 2 million (INR 16.7 crore) co-led by SiriusOne Capital, Inflection Point Ventures and LetsVenture. The round also saw participation from angel investors including EaseMyTrip’s co-founder Rikant Pitti, TIE Angels chairman Mahavir Pratap Sharma and Shobitam’s co-founder Aparna Thyagarajan. The funding gave exit to REGRIP’s early investor IIMA Ventures (formerly CIIE).The startup plans to use the primary capital raised for tech innovation and scale up its collection network of discarded tyres. Founded by Tushar Suhalka, REGRIP makes refurbished tyres through shearing and retreading processes.