India, May 7 -- Reengineered tyre startup REGRIP has raised $2 Mn (INR 16.7 Cr) in an undisclosed funding round co-led by SiriusOne Capital, Inflection Point Ventures and LetsVenture.

The round also saw participation from a host of angel investors, including EaseMyTrip's cofounder Rikant Pitti, TIE Angels chairman Mahavir Pratap Sharma and Shobitam's cofounder Aparna Thyagarajan among others.

The funding also gave exit to REGRIP's early investor IIMA Ventures.

The startup plans to use the freshly raised capital for tech innovation and scale up its collection

network of discarded tyres. Apart from this, it also aims to accelerate its impact on the environment by revitalising discarded tyres, reducing waste and maximising their lifespan...