While talking about why he started TJ Tyres, founder of this company Sameer Panda says, matter of fact, that the problems he faced while driving on roads and highways of Delhi and National Capital Region motivated him to find a viable solution for motorists.
“Time and again, I faced multiple punctures like one of my tyres getting punctured while I was rushing to the exam hall. Once while returning home with my family, after a late night party, my car stopped suddenly on a deserted road,” he says.
To make matters worse for him, it was raining heavily. Sameer Panda knew that he had a job to do. He tried to find available solutions in the market.
As the available solutions didn’t work out, Sameer Panda had to invent eco-friendly safety tyres. The result was that anti-puncture, anti-burst green tyres with BPPC tech., under the brand name TJ Tyres, were born.
Initial Challenges
The biggest initial challenge was making a prototype with very limited resources. “Once the prototype was built, none was ready to accept that such a thing i.e. anti-puncture, anti-burst tyre is possible. Then a new challenge in the form of fundraising came; as Bharat is obsessed with IT and App; manufacturing is not cool” said Sameer Panda.
Market Value and Investments
On its valuation, Sameer Panda said that at present the replacement value of his start up is around $100 millions (more than 800 crores) as the company has developed several 1st time in the World technologies and protected more than 25 Intellectual Properties in different countries like Japan, United States of America and of course Bharat. Initially, TJ Tyres got funding from CIIE IIM Ahmedabad, GAIL and HPCL at the value of $7 millions. Later, the company received funding from several Angel Investors like Bidisha Ganguly, Siddhartha Mohanty, Prabhat Patel at a valuation of $15 millions USD for building a minimum viable factory.
Export and Sales of Products
Now, the company is selling tyres to Electric Vehicle manufacturers. New generation vehicles need a new generation of tyres. It has received several export requirements including two largest automobile MNCs. Sameer Panda informed that, once the company successfully makes products for them, export will also start and sales shall focus on EVs and last mile delivery vehicles.
Future Vision
Sameer Panda further added that the vision of the company is to give innovative sustainable technology at affordable price to everyone and make it greener. The company aims to achieve the same with ‘Make in India’ for the whole world.
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