Regrip Raises Rs 17 Crore Led by Sirious One & Inflection Point

New Delhi, May 7 (PTI) Bollywood actor Suniel Shetty and IT ministry-backed startup Regrip on Tuesday said it has raised USD 2 million, about Rs 16.7 crore, in a funding round co-led by Qatar-based venture capital Sirious One, Inflection Point Ventures, and Let's Venture.

With this funding round, Regrip has given exit to seed investor IIMA Ventures.

"Regrip backed by Suniel Shetty, Govt of Rajasthan and Ministry of Electronics and Information Technology(MeitY) secures USD 2 million funding to revolutionize tyre recycling landscape in India," the firm said in a statement.

Founded by Tushar Suhalka, Regrip is building network of discarded tyre collection centres.

"The raised funds will fuel the expansion of this innovative technology deployment with tyre companies and further enhance Regrip's collection network for discarded tyres. With this infusion of capital, Regrip aims to accelerate its impact on the environment by revitalizing discarded tyres, reducing waste, and maximizing their lifespan," the statement said.



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* Ev2 Ventures raises Rs 6 crore



Ev2 Ventures has raised Rs 6 crore in an investment round in Centriti, a HoReCa (hotel, restaurannt, cafe) distribution company headquartered in Delhi, with operations spanning across Delhi, Jaipur, and Bangalore.

The investment round saw participation from Atrium Angels, Alluviam Capital, Brigade REAP, and HOF Profectus and CoralBay Ventures.



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* Parseable secures USD 2.75 million




Bengaluru-based cloud services startup Parseable has secured USD 2.75 million, about Rs 23 crore, in a funding round led by Surge and NP-Hard Ventures.

"Peak XV's Surge led the seed funding round, with participation from NP-Hard Ventures. Funds raised will be used to accelerate Parseable's innovation in managing the increasing amount of log data generated by today's digital businesses," the company said in a statement.