TyrePlex, B2B e-commerce player in the aftermarket tyre vertical, has raised Rs 12 crore in its pre-Series A funding round from 9Unicorns and AdvantEdge Founders.
Other angel investors including Venture Catalysts, Kunal Bahl and Rohit Bansal (Titan Capital), Abhishek Goyal (co-founder Tracxn), Rajesh Sawhney (Founder and CEO – GSF accelerator) and Sandeep Aggarwal (Founder and CEO Droom) also participated in this round.
The startup plans to use the funds to bring 20% of all tire dealers in the country on its platform and expand its presence in the top 5 cities.
The New Delhi-based TyrePlex was founded in 2020 by Puneet Bhaskar, Jiveshwar Sharma, Nikhil Kalra, and Rupendra Singh, It is a B2B e-commerce platform that helps tire dealers to purchase tires of all brands and deliver them to their shops and establishments.
The startup also provides a dealer management platform for dealers to manage inventory as well as create online stores and invoices.
The startup claims to have digitized over 5,000 tyre dealers across India, and increased the Gross Merchandise Platform (GMV) and revenue by 800% and 300% in FY22.
According to the startup, it aims to achieve a GMV run rate of Rs 300 crore and digitize over 100,000 dealers by the end of the current financial year (FY23).
TyrePlex is digitizing the tyre dealers in India. Founded in 2020, TyrePlex has launched a number of products that are revolutionizing the tyre industry.
They enable tyre dealers to procure tyres, manage inventory, create customer invoices, set-up online stores, generate demand and manage their physical stores using Tyreplex Dealer Management.