On Saturday, in an announcement event, Suniel Shetty said in a statement, "I am very excited about joining Regrip We are not only creating a new definition of recycling but also contributing to the green future by reducing waste and increasing the life of every tire. By adopting innovation and eco-friendly methods, we can create a better future for generations to come."
The actor has invested in about 6 startups so far. In early of this month only, Shetty had invested in the DIY healthcare venture ‘The Biohacker’. Prior to that, he had invested in Klassroom Edutech, in May this year, and even invested in the blockchain-run startups when he invested in Colexion, a blockchain based NFT marketplace. Shetty also has HealthTech in his portfolio as Vieroots Wellness Solutions Pvt Ltd (VWS), in which he invested in August 2020.
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| Announcement event (Image – Twitter/@SunielShetty_FC) |
The regrip works by repairing old and worn tires and making it worth using again. These tires, which are priced at about half the price of new tires, can be used by small and medium truck transport companies.
Gurugram-headquartered Regrip uses quality grade rubber to make refurbished tyres through the process of shearing and retreading. These tyres cost half the price of new products and are used by small and medium trucking companies.
Mahavir Pratap Sharma, the first investor in the startup, said, the brand whi focuses on refurbished tyres is "a win-win solution" for his investment.
Founded in 2021, by Tushar Suhalka, Regrip make re-engineered tyres that are the high performing alternative of the new tyres for the dummy and drive axles in heavy commercial vehicles.
With these Re-engineered tyres the startup aims to help fleet owners in saving money spent on their tyre consumption with an affordable, reliable and sustainable product range.
Regrip tyres are made from refurbishing the old & used tyres using cold process retreading and converting them into reusable tyres which are equally serviceable as new tyres and the startup sell these with an unconditional warranty at half the cost of new tyres.
Notably, Tyre manufacturing process uses rubber, Carbon black and oil-based synthetic varieties as primary ingredients. However, India’s natural rubber (NR) production in 2020 has been scaled down by 42,000 tonne to 668,000 tonnes due to COVID-19, according to the Association of Natural Rubber Producing Countries (ANRPC). In later, the NR production registered a growth of 8.3% but at the same time its consumption also increased to 9% in the 2022-23 fiscal compared with the previous fiscal. The production increased to 8,39,000 tonnes from 7,75,000 tonnes in 2021-22, while consumption rose from 12,38,000 tonnes in 2021-22 to 13,50,000 tonnes in 2022-23.
Thus, the country is witnessing more consumption of rubber then it can produce which isn't a good sign for industries using NR as one of its primary ingredients.
In this scenerio, startups like Regrip can play a vital role — at least for tyre industry — wherein it minimizes the use of natural rubber and recycle the used, worn-out rubbers, and bringing sustainability into tyre-consumption.
Moreover, as per Regrip's LinkedIn profile, it is also minimising the carbon footprints as it takes 22 gallons of oil to make one new average size truck tyre whereas we only use about 7 gallons to have it re-engineered for reuse thus every REGRIP tyre saves 56 litres of oil for the nation.
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