Akshata Sharma
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India ranks among the top global tyre producers, with the sector expected to double its revenue to $22 billion by fiscal 2032, up from $9 billion in fiscal 2022. However, this growth comes with a significant environmental challenge.
The country currently handles around 2.8 million metric tonnes of tyre waste annually, both domestic and imported.
Enter REGRIP "RE-ENGINEERED TYRES", a Gurugram-based startup on a mission to transform this waste into a sustainable solution.
Founded by Tushar Suhalka in 2021 with an initial investment of Rs 10 lakh, Regrip specializes in re-engineering and refurbishing tyres. By using high-quality grade rubber, Regrip creates refurbished tyres through a meticulous process of shearing and retreading.
These refurbished tyres boast about 80% of the lifespan of new tyres but come at roughly half the cost. This makes them an attractive option for small and medium trucking companies, where new tyres can start at around Rs 25,000 each.
What sets Regrip apart is its innovative use of deep tech. The company, backed by celebrity investor Suniel Shetty, employs advanced technologies to assess tyre reusability and implement preventive checks to maximize tyre lifespan. According to Suhalka, India currently lacks a mechanism to trace old tyres or ascertain their value. Regrip addresses this gap with a specialized application.
Using computer vision, Regrip's system inspects discarded tyres to determine their suitability for refurbishment. If deemed reusable, the system also estimates their market value for trading in the aftermarket. This approach not only helps reduce waste but also provides an economic incentive for proper tyre disposal and reuse.
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