DBT Bureau
Bengaluru, 15 January 2025
TyrePlex, India’s leading B2B tyre marketplace, has raised Rs 20 crore in funding (around $2.4 million) round led by PeerCapital, with participation from Titan Capital Winners Fund, Sattva Family Office, and existing investors, including 100 Unicorns.
This funding will be strategically deployed to accelerate growth in multiple areas, the company said in a press release. TyrePlex plans to expand its geographic footprint into the top 25 cities across India, leveraging a combination of qualitative and quantitative data points for city selection.
A significant portion of the funds will be allocated to strengthening the company’s technology platform to further enhance dealer-centric tools and improve operational efficiencies. Moreover, TyrePlex will pilot tyre recycling and reverse logistics initiatives, addressing key sustainability challenges in the industry. The company is also focusing on creating a team to support its city expansion plans.
Founded in 2020, TyrePlex aims to revolutionize the highly fragmented tyre retail ecosystem in India by offering a comprehensive, technology-driven platform that empowers tyre dealers to enhance their efficiency and profitability.
With over 20,000 registered tyre dealers, the platform provides tools to improve sales and margins, streamline procurement, manage inventory, and set up online stores. The company’s app offers an integrated solution that simplifies operations, generates demand, and enables easy procurement of tyres with delivery within 3-4 hours.
