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TyrePlex raises Rs 20 Cr from PeerCapital, Titan Capital Winners Fund, others

EntrackrEntrackr · 5m ago
TyrePlex raises Rs 20 Cr from PeerCapital, Titan Capital Winners Fund, others
Medial

TyrePlex raises Rs 20 Cr from PeerCapital, Titan Capital, Winners Fund, others B2B tyre marketplace TyrePlex has raised Rs 20 crore (around $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. The proceeds will be used to accelerate growth in multiple areas. TyrePlex plans to expand its geographic footprint into the top 25 cities across India, using a combination of qualitative and quantitative data points for city selection. TyrePlex will pilot tyre recycling and reverse logistics initiatives, addressing key sustainability challenges in the industry. The company is also focusing on creating a lean yet highly effective team to support its city expansion plans. Founded in 2020 by Puneet Bhaskar, TyrePlex provides tailored solutions for customer relationship management, inventory optimization, and advanced analytics to drive informed decision-making. With over 20,000 registered tyre dealers, the platform provides tools to improve sales and margins, streamline procurement, manage inventory, and set up online stores. The company’s app offers an integrated solution that simplifies operations, generates demand, and enables easy procurement of tyres with delivery within 3-4 hours. According to market research, the tyre market in India, valued at around $13 billion in 2024, is projected to grow to around $30 billion by 2032. Despite this growth, the sector remains dominated by unorganized and unbranded outlets, with about 90% of tyre dealers operating as multi-brand stores. TyrePlex claims to have already achieved a 13x revenue growth since 2022 and currently operates only in Delhi NCR and Bengaluru.

Construction tech startup BRKZ raises $8 Mn in Series A

EntrackrEntrackr · 1y ago
Construction tech startup BRKZ raises $8 Mn in Series A
Medial

B2B construction tech startup BRKZ has raised $8 million in its Series A round co-led by 9900 and BECO Capital, with participation from Aramco’s Wa’ed Ventures, Knollwood Investment Advisory, RZM Investment and MISY Ventures. With this round, BRKZ has now raised $13.55 million in total. Earlier to this round, the startup had raised $5.55 million in its seed round led by Better Tomorrow Ventures. The proceeds will be used to deepen its proprietary capabilities, and expand its footprint across Saudi Arabia and beyond, BRKZ said in a press release. Launched in 2022 by Ibrahim Manna, BRKZ provides access to a wide pool of suppliers and materials along with multiple delivery and payment options. The startup does not support direct online purchasing, but instead requires buyers to generate and share requests for quotation (RFQs) through its app or WhatsApp. The simplified portal for suppliers enables them to customize prices by size, location, and delivery options. To date, BRKZ claims to have facilitated over $170 million quotations across nearly 1,200 products from more than 350 suppliers. In B2B construction marketplace, BRKZ competes with OfBusiness, Moglix, and Infra.Market, among others.

Jumbotail raises $18.2 Mn in Series C3 round

EntrackrEntrackr · 1y ago
Jumbotail raises $18.2 Mn in Series C3 round
Medial

Jumbotail, B2B marketplace and retail platform for food and grocery, has raised Rs 151 crore ($18.2 million) in a Series C3 round led by Artal Asia Pte. Ltd. Heron Rock, Sabre Investment, Arkam Ventures, Jarvis Reserve Fund, Reaction Global, VII Ventures and others. Artal had led a $85 million Series C round in Jumbotail in December 2021. In March last year, the firm raised $9.5 million in debt and has scooped up around $157 million across equity and debt to date. Jumbotail plans to invest funds in scaling its suite of GTM (Go-To-Market) products and services for new and emerging brands to reach mass market consumers via Jumbotail’s nationwide kirana store network, the company said in a press release. Jumbotail claims to build AI-driven technologies to drive higher customer wallet share by leveraging its deep sourcing capabilities across FMCG and staples and its kirana supply chain. The company also plans to hire teams in deep sourcing, technology, category management, product management, and marketing. “..We will strengthen our leadership position by going deeper into our existing markets and by helping brands reach kiranas with the lowest total cost of activation and the fastest route to market in the sector..,” said Ashish Jhina, Co-founder and COO of Jumbotail. Jhina also said that the company expects to be fully profitable on an operational basis across its entire network before the end of 2024. Founded by S.Karthik Venkateswaran, and Jhina, Jumbotail serves small and medium kirana stores across India via full stack B2B marketplace platform, inhouse warehousing and last-mile delivery supply chain network that provides next-day storefront deliveries to kirana stores. It also provides a fintech platform for payment, credit solutions and financial services to kirana store owners. According to Jumbotail, it generated sales by unassisted digital orders placed organically by kirana stores across the country via its app. Jumbotail’s revenue from operations grew 2.17X to Rs 819 crore in FY23 from Rs 377 crore in FY22, according to startup data intelligence platform TheKredible. Akin to revenue, its losses also jumped over 2X to Rs 264 crore in FY23 as compared to Rs 125 crore in the previous fiscal year.

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