Tyresnmore.com Company Profile

Background

Overview

Tyresnmore.com is a leading e-commerce platform specializing in aftersales automotive solutions, offering a comprehensive range of products and services for both four-wheelers and two-wheelers. Established in 2014, the company has revolutionized the automotive industry by providing end-to-end solutions, from product discovery to doorstep fitment, thereby enhancing customer convenience and satisfaction.

Mission and Vision

Tyresnmore.com aims to redefine the auto aftermarket experience by bridging the gap between online convenience and offline product sales and fitment. Its mission is to deliver top-notch service directly to customers' doorsteps, ensuring transparent pricing, consistent quality, and a seamless process facilitated through fully equipped mobile units and trained personnel.

Industry Significance

The company holds a significant position in India's rapidly expanding auto aftermarket e-commerce sector, which is projected to grow at a compound annual growth rate (CAGR) of 15% by 2025. Tyresnmore.com's innovative approach has set new standards in the industry, addressing critical pain points in the offline tyre replacement market and enhancing the overall customer experience.

Key Strategic Focus

Core Objectives

• Customer-Centric Approach: Prioritizing customer convenience by offering doorstep fitment services for tyres, batteries, and alloy wheels.

• Operational Excellence: Ensuring transparent pricing, product availability, and consistent quality through efficient logistics and trained personnel.

• Market Expansion: Strengthening presence in key urban areas and exploring opportunities to expand services to all cities in India.

Areas of Specialization

• Doorstep Fitment Services: Providing on-site installation of tyres, batteries, and alloy wheels, eliminating the need for customers to visit physical stores.

• Comprehensive Product Range: Offering a wide selection of tyres and batteries from various brands, catering to diverse vehicle models.

• Value-Added Services: Including wheel balancing, alignment, and air pressure checks to ensure optimal vehicle performance.

Key Technologies Utilized

• E-Commerce Platform: A user-friendly website facilitating easy product discovery, selection, and purchase.

• Mobile Service Units: Fully equipped vans staffed with trained technicians to perform on-site services efficiently.

• Logistics Management: Advanced systems for inventory management and order fulfillment to ensure timely and accurate deliveries.

Primary Markets Targeted

• Individual Consumers: Vehicle owners seeking convenient and reliable tyre and battery services at their doorstep.

• Enterprise Clients: Businesses with fleet vehicles requiring regular maintenance and fitment services.

Financials and Funding

Funding History

Tyresnmore.com has experienced significant growth since its inception, with a reported turnover of ₹142.58 million (£1.35 million, US$1.72 million) during the 2022-23 financial year, marking a 39.6% year-on-year increase.

Recent Funding Rounds

In August 2023, CEAT Ltd, a leading tyre manufacturer and part of the RPG Group, acquired the remaining 39.34% stake in Tyresnmore.com, making it a wholly owned subsidiary. This strategic acquisition aims to strengthen CEAT's presence in the auto aftermarket e-commerce sector and leverage Tyresnmore.com's innovative service model.

Notable Investors

• CEAT Ltd: The flagship company of the RPG Group, which now fully owns Tyresnmore.com.

Utilization of Capital

The capital from CEAT's acquisition is expected to be utilized for:

• Operational Scaling: Expanding service coverage to additional cities across India.

• Technology Enhancement: Upgrading e-commerce platforms and mobile service units to improve customer experience.

• Marketing and Branding: Strengthening brand presence and customer outreach initiatives.

Pipeline Development

Key Pipeline Candidates

Tyresnmore.com continues to expand its service offerings, focusing on:

• Geographical Expansion: Extending doorstep fitment services to more cities beyond the current presence in Delhi-NCR, Mumbai, Hyderabad, Bengaluru, Pune, and Chennai.

• Service Diversification: Introducing additional automotive aftercare services to cater to a broader customer base.

Stages of Development

• Service Expansion: Ongoing efforts to increase operational capacity and service coverage.

• Technology Integration: Implementing advanced logistics and customer relationship management systems.

Target Conditions

• Urban Markets: Focusing on densely populated urban areas with high vehicle ownership rates.

Anticipated Milestones

• Short-Term: Launch of services in new cities and enhancement of service offerings.

• Medium-Term: Achieving significant market share in the expanded regions.

Technological Platform and Innovation

Proprietary Technologies

• Mobile Service Units: Custom-designed vans equipped with state-of-the-art tools for on-site tyre and battery fitment.

Significant Scientific Methods

• Logistics Optimization: Utilizing data analytics to streamline inventory management and service scheduling.

• Customer Engagement: Employing machine learning algorithms to personalize marketing and service recommendations.

Leadership Team

Executive Profiles

• Rakesh Tatikonda – Chief Executive Officer

With over 15 years of experience across CEAT and Jio, Rakesh brings a rare blend of deep consumer understanding and strategic thinking. His expertise spans P&L ownership, category building, pricing, and marketing across ATL, BTL, and digital. An electronics engineer and MBA from Jamnalal Bajaj (Batch of 2012), he has been steering TyresNmore since April 2022 with a sharp focus on scaling the business and redefining convenience in the auto aftermarket.

• Sumit Pal Singh – Founder & Chief Operations Officer

Sumit is the driving force behind TyresNmore's founding vision. A true innovator, he launched the company in 2014 and personally designed the fully-equipped doorstep fitment van—a concept that was ahead of its time. With nearly three decades of entrepreneurial experience, he now oversees operations, finance, fleet, compliance, and crew management. A diploma holder in Electronics (Batch of 1994), Sumit brings unmatched on-ground wisdom and heart to everything the company does.

• Manoj Reddy – Chief Growth Officer

Manoj is a data-driven growth leader with over 11 years of experience in e-commerce and auto-tech. Prior to joining TyresNmore in September 2024, he played key roles in shaping growth and analytics at Cars24 and Nykaa. At TyresNmore, he's driving the next phase of growth, leading marketing, product strategy, and brand building with a keen eye on performance, conversion, and customer delight. He loves solving real-world problems and building teams that move fast and get things done.

Market Overview and Competitor Profile

Market Insights and Dynamics

The auto aftermarket e-commerce sector in India is experiencing rapid growth, driven by increasing vehicle ownership and a shift towards online services. The market is expected to expand at a CAGR of 15% by 2025, presenting significant opportunities for companies like Tyresnmore.com.

Competitor Analysis

• MyTyrePoint

A competitor offering online tyre sales and fitment services, focusing on customer convenience and a wide product range.

• Changemytyre

Provides on-site tyre replacement services, emphasizing quick and efficient service delivery.

• Tyremarket

An online platform for purchasing tyres, offering a variety of brands and models with home delivery options.

Strategic Collaborations and Partnerships

• CEAT Ltd

In August 2023, CEAT Ltd acquired the remaining 39.34% stake in Tyresnmore.com, making it a wholly owned subsidiary. This strategic acquisition aims to strengthen CEAT's presence in the auto aftermarket e-commerce sector and leverage Tyresnmore.com's innovative service model.

Operational Insights

Tyresnmore.com's unique value proposition lies in its doorstep fitment services, which differentiate it from traditional tyre retailers and online platforms. The company's focus on customer convenience, transparent pricing, and quality service has established a strong brand presence in the market.

Strategic Opportunities and Future Directions

• Geographical Expansion: Extending services to additional cities across India to tap into new customer segments.