TyrePlex, a business-to-business tire marketplace, has secured Rs 20 crore, or about $2.4 million, in a funding round led by PeerCapital. Titan Capital Winners Fund, Sattva Family Office, and 100 Unicorns are among the current investors who participated.

The money raised will be utilized to boost growth in a number of sectors. TyrePlex intends to use both qualitative and quantitative data to choose the top 25 cities in India as part of its geographic expansion strategy.

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TyrePlex has built a strong network of over 20,000 registered tyre dealers across India. The platform offers a comprehensive suite of tools to help dealers improve sales, increase profit margins, streamline procurement, and manage inventory.

TyrePlex will test ideas for reverse logistics and tire recycling, tackling important sustainability issues in the sector. In order to support its goals for city expansion, the company is also concentrating on building a small but incredibly productive crew.

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By integrating technology and innovation, TyrePlex is digitizing tyre dealerships across India and helping them stay competitive in a rapidly changing market.

About TyrePlex

Founded in 2020 by Puneet Bhaskar, TyrePlex is transforming the tyre retail industry in India by empowering tyre dealers to maximize their profits through digitization.

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