IoT solutions startup Tyre
has raised an undisclosed amount in seed round from IvyCamp. Tyre Express is
co-founded by an alumni team from SP Jain and Saïd Business School (University
of Oxford). Tyre Express is also part of NASSCOM 10000 Startups and is
supported by Microsoft’s BizSpark program.
Tyre Express is working
on IoT-based solution for vehicle diagnostics and has developed a platform to
track and monitor performance of tyres in real-time for fleet operators. The
platform enables a fleet operator to enhance tyre life, improve fuel
efficiency, reduce incidence of accidents and improve the overall operational
efficiency for the fleet. Tyre Express targets working with Fleet operators who
would like to actively leverage technology to improve operational efficiency.
They are also collaborating with Tyre OEMs to improve service offerings to
“The investor from
IvyCamp platform, who is an IIT-Delhi and Wharton Alumni, based in New York,
comprehensive study of the landscape ,a first mover
advantage and a highly efficient founding team of TyreExpress has excited me to
participate in this IvyCamp led initiative. I am very happy to be part of the
highly energetic TyreExpress team.”
“IvyCamp leverages the
Global Alumni Networks to help entrepreneurs. The platform provides access to a
network of mentors and investors and offers a great support in a targeted
manner. IvyCamp also connected us with NASSCOM during the first edition of RIOT
said Brijesh Shukla, Cofounder Tyre Express.
Commenting on the announcement, Anju Gupta,
Co-founder and President at IvyCamp, said, that IvyCamp is able to
engage with start-ups from a variety of industries and connect them to our
Global Alumni network. The recent investments on the Platform across different
sectors shows how valuable our Alumni network is in sourcing, mentoring,
evaluating, and investing in the Startup Ecosystem by leveraging our connects
inside and outside India.
"We have a dedicated focus on
the deep tech and IoT verticals here at IvyCamp. But there hasn’t been too much
support for early stage IoT and hardware startups in the Indian eco-system but
we feel that new sensor technologies and information infrastructure development
will augment the Indian IoT startup story and we will find many more such
investment transactions happening in this space." Said
Adhiraj Banerjee, Executive Director IvyCamp.