Startup’s Tech-Driven Solution Aims to Empower Tyre Dealers Across India
Gurugram-based TyrePlex raises ₹20 crore to scale its B2B tyre marketplace
TyrePlex, an innovative tyre marketplace based in Gurugram, has successfully raised ₹20 crore (~$2.4 million) in a fresh funding round. This investment was led by PeerCapital and Titan Capital, with participation from Sattva Family Office, 100 Unicorns, and other existing investors. The funds will be used to fuel the company’s rapid growth, expand its presence in new cities, and further enhance its technology platform.
What is TyrePlex?
Founded in 2020 by experienced auto-tech professionals, TyrePlex is changing the way India’s fragmented tyre retail market operates. The company offers a tech-driven B2B platform designed to simplify the procurement, sales, and inventory management processes for tyre dealers. The startup aims to empower independent tyre dealers by providing them with cutting-edge tools to increase sales, improve margins, and streamline operations.
With more than 20,000 registered tyre dealers across the country, TyrePlex’s platform connects them with suppliers, ensuring a smoother and more efficient supply chain. The app-based solution enables dealers to make fast tyre orders, manage inventory, and set up their own online stores, all while enjoying fast delivery times of 3-4 hours.
“Our mission is to help tyre dealers grow their business by giving them access to powerful technology. With TyrePlex, dealers see higher demand, better profits, and more control over their working capital,” said Puneet Bhaskar, Co-Founder & CEO of TyrePlex.
The Big Funding Boost: What’s Next for TyrePlex?
The ₹20 crore funding will be used strategically across multiple fronts to accelerate TyrePlex’s growth. One of the key areas the company plans to focus on is expanding its geographical footprint. Currently operating in Delhi NCR and Bengaluru, TyrePlex aims to reach the top 25 cities in India, selecting locations based on data-driven insights.
“We’ll use this investment to rapidly expand into new cities and bring our technology to more tyre dealers. The goal is to improve efficiency and help our partners grow their businesses,” Bhaskar said.
Additionally, the company plans to enhance its technology platform by introducing new features tailored specifically for tyre dealers. This includes tools for customer relationship management (CRM), inventory optimization, and advanced analytics to support better decision-making.
TyrePlex will also focus on driving sustainability in the industry by piloting tyre recycling and reverse logistics initiatives, addressing an important challenge in the sector. The company is committed to making the tyre business more eco-friendly while supporting the growth of its partners.
How TyrePlex is Changing the Indian Tyre Industry
The Indian tyre market is valued at around $13 billion in 2024 and is expected to reach $30 billion by 2032. However, the sector is still dominated by unorganized and unbranded outlets, with about 90% of tyre dealers operating multi-brand stores. This creates a huge opportunity for platforms like TyrePlex to bring efficiency, reliability, and better margins to the market.
TyrePlex’s B2B e-commerce model is well-positioned to address this gap by providing a reliable, easy-to-use platform where tyre dealers can source products quickly, access competitive pricing, and manage operations seamlessly. Since its inception, the company has already achieved an impressive 13x revenue growth, a sign of the strong demand for its services.
What’s in Store for TyrePlex’s Future?
With a focus on innovation and tech-driven solutions, TyrePlex aims to become the go-to platform for tyre dealers across India. The company’s scalable model and strong technological foundation give it an edge in an industry that’s ripe for disruption. By expanding into more cities, enhancing its platform with new features, and addressing sustainability challenges, TyrePlex is poised to become a major player in India’s tyre market.
“TyrePlex is uniquely positioned to lead the transformation of an unorganized market. By driving efficiency and trust across the tyre supply chain, TyrePlex is set to scale rapidly,” said Ankur Pahwa, Managing Partner at PeerCapital.
TyrePlex’s Vision for the Future
TyrePlex’s commitment to innovation and growth is clear. The company’s goal is not just to be a tech platform but also a partner that helps tyre dealers improve their operations and profitability. Through its comprehensive suite of tools and services, TyrePlex is laying the foundation for a more efficient and profitable tyre retail ecosystem in India.
As the tyre market continues to grow and evolve, TyrePlex’s tech-enabled solutions are well-placed to shape the future of the industry, empowering tyre dealers with the tools they need to succeed.
Conclusion: The Road Ahead for TyrePlex
TyrePlex is on an exciting journey, with big plans to expand its reach, enhance its technology, and support the growth of tyre dealers across India. With strong backing from investors and a laser focus on innovation, the company is set to lead the charge in transforming India’s tyre market. If the company continues on this path, it could very well become a household name in the tyre industry in the coming years.
