[Funding News] Suniel Shetty-backed Regrip Raises $2 Mn Funding As IIMA Ventures Exit

Re-engineered tyre startup Regrip has raised $2 million to transform the tire recycling market in India. IIMA Ventures, Regrip's original investor, successfully exited the company with this fundraising round as well.

Leading venture capital firms Sirious One, Inflection Point Ventures, and Let's Venture, as well as well-known angel investors like co-founders of EaseMyTrip and Shobitam co-founder Aparna Thyagarajan, and chairman of TIE Angels Mahavir Pratap Sharma, are backing the startup.

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Tushar Suhalka, founder of Regrip 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 capital raised will support the growth of this cutting-edge technological implementation with tire companies and improve Regrip's tire disposal network.

Suniel Shetty, the Bollywood actor and investor in Regrip, 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 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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About Regrip

Regrip, founded by Tushar Suhalka, is a re-engineered tyre startup backed by Suniel Shetty, the Govt. of Rajasthan, and the Union Ministry of Electronics and Information Technology (MeitY).

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