Indian B2B Tyre Marketplace TyrePlex Secures $2.4 Million in Funding

TyrePlex, an emerging B2B marketplace for tyres in India, has successfully raised $2.4 million in a recent funding round. The investment will enable the company to expand its platform, enhance its technology infrastructure, and accelerate its growth as it looks to become the leading online tyre marketplace for businesses across the country. With this fresh capital, TyrePlex aims to streamline the way tyres are bought and sold in India’s highly fragmented B2B market, creating a more efficient and transparent process for manufacturers, wholesalers, and retailers.

The funding round was led by a mix of venture capital firms and angel investors who recognize the potential in TyrePlex’s business model and its ability to modernize the tyre industry. TyrePlex’s platform connects businesses—such as tyre dealers, wholesalers, and retailers—with manufacturers and suppliers, making it easier for them to find, compare, and purchase tyres in bulk. This helps reduce the traditional inefficiencies in the tyre supply chain, such as high distribution costs and lack of transparency in pricing, ultimately making tyre procurement smoother and more cost-effective.

Founded in 2020, TyrePlex is tackling a longstanding issue in the Indian tyre market. Traditionally, the procurement process for tyres in India has been highly decentralized, with numerous intermediaries involved, leading to price markups, delays, and a lack of consistency in the quality of products. TyrePlex’s platform aims to address these challenges by creating a single point of contact for businesses to source tyres from trusted manufacturers. The marketplace offers a vast selection of tyres for different types of vehicles, including cars, trucks, buses, and two-wheelers, all from reputable brands.

“We are incredibly excited about this investment, which will help us continue our mission of transforming how tyres are bought and sold in India,” said Raghav Sharma, CEO and co-founder of TyrePlex. “The Indian tyre market is large but underserved in terms of a streamlined, transparent platform for business-to-business transactions. With this funding, we will enhance our platform’s features, expand our inventory, and extend our reach to even more businesses across the country. Our vision is to make tyre procurement more efficient, cost-effective, and accessible for everyone in the supply chain.”

The funds raised in this round will primarily be used to improve TyrePlex’s technology infrastructure, expand its digital platform, and onboard additional tyre suppliers to its marketplace. By offering a tech-driven solution that optimizes the procurement process, TyrePlex plans to improve its user experience and provide businesses with powerful tools to manage their tyre orders more efficiently. The company is also looking to enhance its logistics capabilities to ensure quicker deliveries, as well as provide more reliable tracking systems for customers.

In addition to expanding its platform, TyrePlex plans to invest in marketing and brand-building efforts to increase awareness of its services and attract more businesses to the platform. With the recent surge in e-commerce adoption across India, the company is positioned to capitalize on the growing demand for digital procurement solutions in the B2B sector. TyrePlex aims to become the go-to marketplace for businesses looking for high-quality tyres at competitive prices, reducing the time and effort involved in sourcing tyres from multiple suppliers.

The Indian tyre market is projected to grow significantly over the next several years, driven by the country’s expanding automotive industry and increasing demand for vehicles. As businesses in the tyre and automotive sectors look for ways to optimize their supply chains and reduce costs, platforms like TyrePlex are well-positioned to benefit from this growth. By offering an online marketplace that cuts through the traditional distribution channels, TyrePlex is helping businesses save time and money, ultimately improving the overall efficiency of the industry.

“This investment in TyrePlex is an exciting step forward for the company and for the broader Indian B2B marketplace,” said an investor involved in the funding round. “The company is addressing a significant gap in the market by bringing much-needed transparency and efficiency to tyre procurement. With its scalable platform and innovative approach, we believe TyrePlex is well on its way to becoming a leader in the space.”

Looking ahead, TyrePlex plans to further expand its services across India, reaching more customers in cities and regions that have traditionally been underserved by the existing tyre distribution networks. The company is also considering international expansion as it seeks to tap into emerging markets with similar fragmented tyre supply chains.

As the Indian tyre industry continues to grow and evolve, TyrePlex’s platform offers a compelling solution that simplifies the way businesses engage with tyre suppliers. By combining technology with deep industry knowledge, TyrePlex is poised to lead the way in transforming the tyre procurement process, driving greater efficiency, cost savings, and transparency for businesses across the country. With $2.4 million in new funding, the company is well-equipped to scale its operations and bring its vision to life.