Enterprise IoT solutions start-up Tyre Express, who incurred funding over eight weeks ago via the IvyCamp platform, further raised an undisclosed amount of additional funding in seed round.
Tyre Express is working on Internet of Things (IoT)-based solutions 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.
"I was introduced to Tyre Express via IvyCamp, which is a unique Alumni based platform for upcoming startups in India to connect with relevant industry experts. I liked the energy, chemistry and flexibility that the 3 promoters brought to the venture. The very application of IoT to real life problems, especially in India, is exciting and I wish Tyre Express team grand success in their venture. " said Rohitash Gupta, who has funded Tyre Express.
"Rohitash has a strong experience in scaling up businesses in tech domain. We look forward to working with Rohitash and leveraging his experience as we look to scale our venture. Given that we have raised a second round in a matter of 8 weeks is also a testament to the great value addition that IvyCamp brings to young startups like us", stated Brijesh Shukla ,Cofounder Tyre Express.
Tyre Express had previously raised via IvyCamp platform, from an investor who is an IIT-Delhi and Wharton Alumni, and based in New York.
"The recent investments on the Platform in IoT, VR, AR, Analytics sectors validates our belief that there is opportunity and market for these products in India. There is clear indication that future is increasingly becoming tech-driven and the IvyCamp Alumni network will help in sourcing, mentoring, evaluating, and investing in the early stage start-ups by leveraging our extensive connects not just in India but also globally," said Anju Gupta, Co-founder and President at IvyCamp.
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