Tyre re-engineering startup Regrip and cybersecurity startup Treacle secured early-stage funding, the companies said on Thursday.
Regrip has raised $2 million (Rs 16.6 crore) in a funding round led by Qatar-based venture capital firm Sirious One along with Inflection Point Ventures and Let's Venture.
The round also saw participation from angel investors like EaseMyTrip’s co-founder Rikant Pitti, Shobitam’s co-founder Aparna Thyagarajan, Bombay Chemical & Rubber Product's managing partner Vishal Jhunjhunwala and TIE Angels chairman Mahavir Pratap Sharma.
The funds will be used to expand Regrip’s presence and improve its collection network for discarded tires.
Founded by Tushar Suhalka Regrip aims to build a network of discarded tire collection centers, along with its solution to predict the life and price of old tires.
The round also saw its seed round investor IIMA Angels exiting. The details of the exit were, however, not disclosed.
Treacle has raised $478,991 (Rs 4 crore) in a pre-seed funding round from early-stage investment firm Inflection Point Ventures.
The funds will be utilised to improve its technical and business development, marketing and office expenses and expansion in the Indian market.
Founded in 2021 by Subhasis Mukhopadhyay, Subhajit Manna and Partha Das, Treacle was incubated from the IHub program at FIRST, IIT Kanpur. Treacle’s artificial intelligence (AI)-based deception technology forms the major part of its defensive cyber security solutions, which protects by analyzing attacker behavior, diverting them into mirage networks, and issuing early warnings to security operations center (SOC) analysts.
Additionally, the implementation of an AI-based early warning system improves its capability to identify threats.
