Bollywood actor Suniel Shetty’s backed startup, Regrip, has secured $2 million (approximately Rs 16.7 crore) in its latest funding round. The funding was co-led by Qatar-based venture capital firm Sirious One and participation from Inflection Point Ventures and Let’s Venture.
Among the investors were notable names like Rikant Pitti, co-founder of EaseMyTrip, Mahavir Pratap Sharma, Chairman of TIE Angels, and Aparna Thyagarajan, co-founder of Shobitam, along with several other angel investors.
Regrip, supported by the IT ministry, also provided an exit to its seed investor, IIMA Ventures.
The funds will be used to expand Regrip’s innovative technology deployment with tyre companies and enhance its collection network for discarded tyres. The startup aims to bolster its impact on the environment by revitalizing discarded tyres, reducing waste, and maximizing their lifespan.
Tushar Suhalka founded Regrip, which focuses on building a network of discarded tyre collection centres. The startup employs quality-grade rubber to manufacture refurbished tyres through shearing and retreading.
This funding round marks a significant milestone for Regrip, strengthening its position in the market and reinforcing its commitment to sustainable solutions for the tyre industry. With Suniel Shetty’s backing and support from prominent investors, Regrip is poised to make substantial strides towards a greener future.
