TyrePlex raises Rs 20 Cr from PeerCapital, others

TyrePlex, a B2B tyre marketplace has raised Rs 20 crore (around $2.4 million) in a funding round led by PeerCapital.

The round also saw participation from Titan Capital Winners Fund, Sattva Family Office and existing investors including 100 Unicorns. 

The startup will use the funds to drive growth in various areas. TyrePlex aims to expand to the top 25 cities in India, selecting locations based on a mix of data-driven insights and market analysis.

Read also -  GreenStitch Secures $1.2 Million in its Seed Round Funding

TyrePlex will test tyre recycling and reverse logistics to tackle key sustainability issues in the industry. It is also building a small but efficient team to support its city expansion plans.

TyrePlex says it has grown its revenue 13 times since 2022 and currently operates in Delhi NCR and Bengaluru.

About TyrePlex 

Gurugram-based TyrePlex was founded in 2020 by Puneet Bhaskar; it offers customized tools for managing customer relationships, optimizing inventory, and using advanced analytics to support better decisions.

With 20,000+ registered tyre dealers, the platform helps boost sales and profits, streamline purchases, manage stock and create online stores. The app provides an all-in-one solution to simplify operations, increase demand and ensure tyre deliveries within 3-4 hours.

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