Suniel Shetty-backed Regrip raises $2M in a fresh round led by Qatar-based VC firm, IPV, others

Regrip, a tyre recycling startup backed by Bollywood actor Suniel Shetty, the Government of Rajasthan, and the Union Ministry of Electronics and Information Technology (MeitY), has raised $2 million in a fresh funding round.

The round was led by Qatar-based venture capital Sirious One alongside Inflection Point Ventures and Let's Venture. The round also gave an exit to REGRIP’s early investor, IIMA Ventures.

Prominent investors participation

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 also joined the round. 

"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," said Tushar Suhalka, Founder of Regrip.

Groundbreaking technology and expansion plans

Regrip aims to establish India’s largest network of discarded tyre collection centers while introducing innovative technology to the market. The startup claims to have developed the world's first solution to predict the life and price of old tyres, akin to a "cashify for old tyres."

The new funding will be instrumental in expanding Regrip's deployment of innovative technology with tyre companies and enhancing its collection network.

What did Suniel Shetty say about Regrip

Bollywood actor and investor Suniel Shetty expressed his enthusiasm for Regrip’s potential to transform tyre recycling and its impact on the environment.

"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."