Tyre Express, an enterprise Internet of Things (IoT) startup, has today announced that it has raised an undisclosed amount of funding in its seed round from IvyCamp. Also, the startup is a part of NASSCOM 10000 Startups and is supported by Microsoft’s BizSpark program.
Brijesh Shukla, Co-Founder of Tyre Express, said,
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 event.
Commenting on the announcement, Anju Gupta, Co-Founder and President at IvyCamp, said,
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.
Adhiraj Banerjee, Executive Director IvyCamp also comments on the investment,
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.
The startup is working on an IoT solution for vehicle diagnostics. It has also developed a platform to track and monitor the performance of tyres in real-time for fleet operators.
The platform enables a fleet operator to enhance tyre life, improve fuel efficiency, reduce chances of an accident, and improve the overall operational efficiency of the fleet. Tyre Express targets fleet operators who would like to actively leverage technology to better their operations. They are also collaborating with Tyre OEMs to improve service offerings to institutional clients.
IvyCamp claims to be India’s first unified technology-based platform that leverages the Global Alumni Network to help entrepreneurs be successful. Through the platform, it partners with educational institutions to connect and support entrepreneurial ecosystems.
