# Itaro

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/itaro

- Industry: Retail
- Headquarters: Sao Paulo, Brazil
- Website: www.itaro.com.br
- Total disclosed funding: $8M
- Latest round: Series B (Nov 3, 2015)
- Investors on record: 12

## About

Itaro is a Brazilian tire manufacturer focused on producing high-quality tires for passenger and SUV vehicles, with innovative designs tailored to enhance safety, performance, and fuel efficiency.Founded in 2012 and headquartered in Sao Paulo, Brazil, Itaro specializes in tire production for automotive applications. The company has undertaken strategic initiatives since its inception, including a recent acquisition by PneuStore in April 2017. Itaro was founded by a team with previous experience in the automotive sector, though specific founder details are not available. The company has successfully closed 5 deals, with its latest funding round being Series B, raising BRL 10.000 mn from investors including Astella Investimentos, JPJ Investments, and Rigi Ventures, matching the total amount raised.Itaro Pneus specializes in the production of a diverse range of high-quality tires designed for various automotive applications, particularly focusing on passenger and SUV vehicles. The company's primary offerings include three flagship tire models: the IT101, IT203, and IT301, each engineered to address unique driving needs. The IT101 is characterized by its symmetrical tread design, which enhances water evacuation to reduce aquaplaning, making it ideal for safety and comfort in SUVs. The IT203 emphasizes cost-effectiveness and durability, featuring technology that improves fuel efficiency and traction on wet surfaces. In contrast, the IT301 targets the performance segment, utilizing silica compounds for enhanced traction and maneuverability in both dry and wet conditions. Itaro Pneus primarily serves the Brazilian market, catering to a wide customer base that includes individual vehicle owners, automotive retailers, and wholesalers looking for reliable tire solutions.The revenue model for Itaro Pneus is built around direct sales to consumers and partnerships with retail outlets and wholesalers. The company engages in B2B transactions by supplying its products to automotive retailers and e-commerce platforms, such as Pneustore, its exclusive partner. Customers purchase tires individually, with a focus on flagship models like the IT101, IT203, and IT301, each designed for specific consumer needs and preferences. Transaction structures typically involve one-time purchases through retail channels, where pricing is set to reflect the quality and performance features of each tire model. This approach allows Itaro to maintain a competitive edge in the tire market, emphasizing both accessibility and exceptional value for its diverse clientele.Itaro is focused on expanding its product line and market reach in the coming years. The company is in the process of developing new tire models tailored to emerging driving needs. Additionally, Itaro plans to expand into international markets, targeting specific regions in South America by 2025. The BRL 10.000 mn raised in the recent Series B funding will be strategically allocated to support product development and market entry initiatives.

## Funding rounds

- Series B, Nov 3, 2015, $2.6M — Astella Investimentos, Rigi Ventures, JPJ Investments
- Series A, Jan 27, 2015, $1M — Astella Investimentos
- Series A, Aug 29, 2014, $4.4M — Astellas Venture Management, Simile Venture Partners, IG Angels Club, TAVentures, Cometa
- Seed, Apr 1, 2013 — TA Ventures, Simile Venture Partners, Cometa, Impar Invest, Rigi Ventures, Brazilian Family Office, Varif Ventures

## Investors

- TA Ventures (https://capitalatlas.ai/funds/ta-ventures) — Seed
- Simile Venture Partners (https://capitalatlas.ai/funds/simile-venture-partners) — Seed, Series A
- Cometa (https://capitalatlas.ai/funds/cometa) — Seed, Series A
- Impar Invest — Seed
- Rigi Ventures — Seed, Series B
- Brazilian Family Office — Seed
- Varif Ventures — Seed
- Astellas Venture Management (https://capitalatlas.ai/funds/astellas-venture-management) — Series A
- IG Angels Club — Series A
- TAVentures — Series A
- Astella Investimentos (https://capitalatlas.ai/funds/astella-investimentos) — Series A, Series B
- JPJ Investments — Series B