reTyre secures €7m funding and partners with Vittoria
Norway-based, recyclable tyre start-up reTyre has secured €7 million (US$8.1m) in funding to industrialise its injection-moulded bike tyre manufacturing. Alongside funding, it has also signed a partnership with Italian tyre brand Vittoria to co-develop products.
According to reTyre, the funds will be directed at the company's first fully automated production facility in Norway, as well as a second plant in Asia. ReTyre released its first "carbon-neutral tyre" in 2024, and claims that its patented tyre-making process can cut the CO2 emissions by 80% compared to conventional vulcanised tyres, while keeping the process dust-free and fully automated, which allows manufacturing closer to assembly lines.
The majority of the funding came from Hatch Blue and Fundracer, a cycling-focused venture capital fund that was founded by cycling industry stalwarts: 3T's CEO Rene Wiertz, Cervelo co-founder Gerard Vroomen and ex-Zipp president Andy Ording.
