OSLO, Finland (BRAIN) — Norwegian tire startup reTyre has closed on a 7 million euro ($8.1 million) funding round that includes cycling startup investor Fundracer. The company (profiled in a May 2025 BRAIN article) also announced it is partnering with Vittoria to co-develop a performance tire using reTyre's injection molding technology.
ReTyre said it will use the investment to open production facilities in Norway and Asia this year. "The funding will enable reTyre to scale up production, deliver on its large order book, and reach profitability," the company said.
ReTyre's manufacturing technology is said to be more environmentally friendly than traditional tire manufacturing and to allow production to be set up quickly near factories without the massive capital investment normally required. The tires themselves can be 100% recycled. The company has said it is targeting the mass market initially for high-volume sales, but says its technology is also suited for performance tires, which it is now developing with Vittoria.
"Paul Magne Amundsen, the CEO and founder of reTyre, said, "After a decade of focused R&D, we're proud to disrupt the industry with a technology that delivers a new level of performance while enabling true circularity and a sustainable solution in tire manufacturing.
"The investment round was led by Hatch Blue's Blue Revolution Fund, a fund with headquarters in Ireland that specializes in investments in sustainable technologies, especially aquaculture firms. The fund was an earlier investor in reTyre.
Fundracer is a fund founded by cycling industry veterans René Wiertz, Gérard Vroomen and Andy Ording. Wiertz said, "We are proud to support reTyre and to work alongside their team in scaling this groundbreaking technology. ReTyre's deep-tech platform enables clean, local, and automated production of all types of tires. It aligns perfectly with Fundracer's mission to back sustainable, high-performance innovations that will redefine the future of mobility."
Vittoria and reTyre signed a Strategic Collaboration Agreement to co-develop and bring to market performance tires based on reTyre's technology.
Stijn Vriends, the chairman and CEO of Vittoria, said: "We've followed reTyre for many years and are convinced that their unique production method can successfully be applied to utility bicycle tires. Vittoria stands for performance and sustainability, and reTyre's technology delivers both. We're excited to collaborate and bring this next generation of sustainable performance tires to market."
