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IvyCamp facilitates IoT Startup Tyre Express to raise seed funding

IvyCamp facilitates IoT Startup Tyre Express to raise seed funding

Tyre Express – an IoT startup

Founded in November 2015 by Dinesh Wakale and Brijesh Shukla, Tyre Express Pvt. Ltd. is an enterprise IoT solutions startup. Dinesh and Brijesh are alumni from S P Jain Institute of Management and Research and Said Business School, respectively. Tyre Express is supported by Microsoft’s BizSpark programme. The startup is in news, as it raised an undisclosed amount in its seed round from IIT Delhi and Wharton alumni. The fundraiser was facilitated by IvyCamp.

IvyCamp is an innovation and entrepreneurship platform by IvyCap Ventures. The platform connects entrepreneurs with mentors, investors, and incubation centers, through the global alumni networks of institutes such as IITs, IIMs, ISB, and BITS Pilani. IvyCamp has previously helped startups raise funds across several industry verticals, such as food delivery startup Mr Hot Foods, payments firm FTCash, and furniture rental startup Grabonrent.

Founders of Tyre Express

The Ivy Camp platform helped the personality development app, Leadburg raise fund, only last week. The funding was raised from former SAP veteran Harsh V. Pant, and OpsVeda Asia president and COO Ratheesh Raveendran. Adhiraj Banerjee, Executive Director, IvyCamp, remarks “IvyCamp focuses closely on the deep tech and IoT verticals. Many more investment transactions will grace the landscape, as new sensor technologies and information infrastructure development continue to augment the IoT startup scenario in India.”

Tyre Express is developing IoT-based solutions for vehicle diagnostics. The firm has developed a platform which tracks and monitors the performance of tyres in real-time for fleet operators. Besides, a fleet operator can enhance tyre life, improve fuel efficiency, reduce incidence of accidents, and bolster the overall operational efficiency for the fleet, leveraging the platform. Tyre Express is collaborating with tyre manufacturers to enhance its service offerings to institutional clients.

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