Gurugram-based B2B tyre marketplace TyrePlex has raised ₹20 crore (~$2.4 million) in a funding round led by PeerCapital, with participation from Titan Capital Winners Fund, Sattva Family Office, and existing investors, including 100 Unicorns.
Transforming the Tyre Industry
Founded in 2020 by auto-tech industry veterans, TyrePlex aims to digitize and streamline the fragmented tyre retail ecosystem in India. With over 20,000 registered tyre dealers, the platform offers tools to enhance sales, margins, and operational efficiency while enabling dealers to set up online stores.
Its app provides an integrated solution for demand generation, inventory management, and tyre procurement, ensuring deliveries within 3-4 hours.
"Our mission is to empower independent tyre dealers through proprietary technology, driving higher demand, profitability, and optimized working capital," said Puneet Bhaskar, Co-Founder and CEO of TyrePlex.
Strategic Deployment of Funds
The newly raised funds will support TyrePlex&rsquo;s expansion into 25 major cities across India, focusing on establishing a robust distribution network. This will include services like customer relationship management, inventory optimization, and advanced analytics for data-driven decision-making.
Additionally, TyrePlex plans to enhance its technology platform to improve dealer-centric tools and operational efficiencies. It will also pilot tyre recycling and reverse logistics initiatives, addressing sustainability challenges in the industry.
"We're committed to relentless innovation, delivering state-of-the-art, data-driven solutions to meet the evolving demands of the tyre industry," added Bhaskar.
Growing Market Opportunity
India's tyre market, valued at approximately $13 billion in 2024, is expected to grow to $30 billion by 2032, driven by increasing demand. Despite this, the market remains dominated by unorganized and multi-brand outlets, representing about 90% of tyre dealers.
TyrePlex&rsquo;s asset-light, fully managed B2B e-commerce platform aims to bridge this gap by providing reliable solutions for product availability, competitive pricing, and seamless operations.
The startup, which currently operates in Delhi NCR and Bengaluru, has achieved a 13x revenue growth since 2022.
Industry Support
&ldquo;TyrePlex is perfectly positioned to transform an unstructured market by driving efficiency, scale, and trust while integrating intelligence across the tyre supply chain,&rdquo; said Ankur Pahwa, Managing Partner at PeerCapital.
As TyrePlex continues to innovate and expand, it is set to play a pivotal role in shaping the future of India&rsquo;s tyre industry, emphasizing technology-driven profitability and sustainability.
&nbsp;
&nbsp;
Source : Indian Startup News

Gurugram-based B2B tyre marketplace TyrePlex has raised ₹20 crore (~$2.4 million) in a funding round led by PeerCapital, with participation from Titan Capital Winners Fund, Sattva Family Office, and existing investors, including 100 Unicorns.

TyrePlex Secures ₹20 Crore in Funding to Revolutionize India's Tyre Retail Ecosystem