Total amount raised
₹320 Millions
Latest funding date
01/01/2025
Location
TyrePlex has successfully raised funds through a Series A round, which closed on January 15, 2025. The platform specializes in the tyre aftermarket space, offering a wide range of tyres and related services for various vehicles.
With 16 investors backing the company, including Titan Capital and 100Unicorns, TyrePlex is poised for growth in the eCommerce sector. Keep reading to explore the intricacies of TyrePlex's fundraising journey and the investors supporting this innovative platform.
What Is TyrePlex?
TyrePlex, founded in 2020, is an eCommerce platform specializing in the tyre aftermarket space. Headquartered in New Delhi, India, the company operates in the automotive and e-commerce industries.
With a team of 11-50 employees, TyrePlex was founded by Jiveshwar Sharma, Nikhil Kalra, Puneet Bhaskar, and Rupendra Pratap Singh. The platform enables over 100,000 independent multi-brand tyre dealers to set up online stores, sell online, and manage their physical stores using TyrePlex's Dealership Management System.
How Much Funding Has TyrePlex Raised?
- Series A
- Amount Raised: ₹200M (approximately $2.4 million)
- Date: January 2025
- Lead Investors: PeerCapital, Titan Capital Winners Fund, Sattva Family Office, 100 Unicorns
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations across 25 major cities in India, enhance the technology platform, and pilot sustainability initiatives.
- Seed Round
- Amount Raised: ₹120M (approximately $1.5 million)
- Date: August 2022
- Lead Investors: 100Unicorns, AdvantEdge Founders
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To improve sales, manage inventory, and streamline procurement for tyre dealers.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and development of the platform.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: April 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand market reach.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2021
- Lead Investors: AdvantEdge Founders
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation for the company's operations.
Total Amount Raised: $3.9 million
Current Valuation: Not publicly disclosed
Key Investors
- PeerCapital
- Details: PeerCapital led the Series A funding round for TyrePlex, investing ₹200M. The firm focuses on transforming unstructured markets by driving efficiency, scale, and trust within supply chains.
- Investment Focus Areas: Technology, sustainability, supply chain efficiency
- Notable Investments: TyrePlex
- 100Unicorns
- Details: 100Unicorns is an existing investor in TyrePlex, participating in multiple seed rounds. The firm aims to support high-growth startups in various sectors.
- Investment Focus Areas: Not explicitly detailed
- Notable Investments: TyrePlex
- AdvantEdge Founders
- Details: AdvantEdge Founders has invested in multiple seed rounds for TyrePlex. The firm is known for backing early-stage startups with high growth potential.
- Investment Focus Areas: Not explicitly detailed
- Notable Investments: TyrePlex
- Titan Capital Winners Fund
- Details: Titan Capital Winners Fund participated in the Series A funding round for TyrePlex. The fund focuses on bridging the gap between tyre manufacturers, dealers, and customers in a fragmented market.
- Investment Focus Areas: Not explicitly detailed
- Notable Investments: TyrePlex
- Sattva Family Office
- Details: Sattva Family Office participated in the Series A funding round for TyrePlex. The firm is involved in various investment activities, although specific focus areas are not detailed.
- Investment Focus Areas: Not explicitly detailed
- Notable Investments: TyrePlex
What's Next for TyrePlex?
TyrePlex is poised to capitalize on the burgeoning Indian tyre market, which is projected to grow from $13 billion in 2024 to $30 billion by 2032. The company plans to expand into 25 major cities, enhance its technology platform, and pilot sustainability initiatives like tyre recycling and reverse logistics. These steps aim to streamline the fragmented tyre retail ecosystem and offer advanced tools for inventory optimization and customer relationship management.
Given the significant growth potential, TyrePlex is likely to attract further investment to support its ambitious expansion and technological advancements. The company’s focus on sustainability and technology-driven solutions aligns well with current industry trends, making it an attractive prospect for future fundraising opportunities.
However, TyrePlex will face challenges such as navigating the highly fragmented market, ensuring reliable product availability, and maintaining service quality during rapid geographic expansion. Building a lean yet effective team to support these initiatives will be crucial for sustained growth.
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