TyrePlex has raised $2.5 million in a funding round led by PeerCapital, while Eccentric Engine has raised $5 million in pre-Series A funding. Separately, Sarla Aviation has secured $10 million in its Series A1 funding round.
PeerCapital leads funding in TyrePlex
B2B tyre marketplace TyrePlex has raised $2.5 million (Rs 20 crore) in a funding round led by PeerCapital, with participation from Titan Capital Winners Fund, Sattva Family Office, and existing investors such as 100 Unicorns.
In a statement, the company said that the funding will be strategically deployed to accelerate growth in multiple areas, including expanding footprint into the top 25 cities across India.
A significant portion of the funds will be allocated to strengthening the company’s technology platform to further enhance dealer-centric tools and improve operational efficiencies.
Additionally, TyrePlex will pilot tyre recycling and reverse logistics initiatives, addressing sustainability challenges in the industry, the statement added. The company will also be building its team to support its city expansion plans.
Founded in 2020 by auto-tech industry veterans, TyrePlex provides tools to improve sales and margins, streamline procurement, manage inventory, and set up online stores. The company boasts over 20,000 registered tyre dealers on its platform.
Eccentric Engine raises $5m
Eccentric Engine a 3D tech partner for automotive players, has raised $5 million in pre-Series A funding round, co-led by Exfinity Venture Partners and Arkam Ventures.
The funding proceeds will be used to expand Eccentric’s global footprint and to ramp up further development of its proprietary One3D platform.
“Over the past few years, we set out to revolutionise the vehicle-buying experience in India, offering trust and confidence to buyers through the immersive One3D platform for all major automotive OEMs. We are excited to take this next step forward with our growing partners and investors,” said Varun Shah, co-founder and CEO, Eccentric Engine..
Founded in 2012 by Gaurav Rane and Varun Shah, Eccentric developed One3D, a real-time 3D rendering platform tailored for online retail experiences for automotive OEMs and dealerships. Its clients include Maruti Suzuki, Tata Motors, Toyota, Hyundai, and Stellantis, among others.
Accel leads Sarla Aviation’s $10m round
Sarla Aviation, an aerospace startup developing electric aircraft for flying taxis, has secured $10 million in its Series A1 funding round led by venture capital firm Accel.
The round also saw participation from angel investors, including Flipkart co-founder Binny Bansal, Zerodha co-founder Nikhil Kamath, and Swiggy’s Sriharsha Majety.
The funding will enable Sarla Aviation to accelerate its mission of transforming transportation in India by offering affordable, efficient, and sustainable air mobility solutions, it said in a statement.
“With the support of our investors, we are accelerating the development of our technology, expanding our team and establishing a state-of-the-art R&D centre. Our first priority is to build a mass mobility system that serves and enables India like cars once transformed and enabled the US,” said Adrian Schmidt, co-founder and CEO of Sarla Aviation.
“We also plan to launch a free-of-cost air ambulance service, addressing the urgent need for rapid medical response and saving countless lives by eliminating traffic-related delays,” he added.