South Korean start-up is transforming tyre safety by delivering real-time data insights that go beyond traditional TPMS, monitoring tyre pressure, temperature, wear and alignment. Targeted at fleet operators and manufacturers, BANF’s system improves vehicle safety, reduces costs and supports sustainability. With global partnerships including Volvo and Hyundai, BANF is also exploring market opportunities in India.

When it comes to vehicle safety and fuel efficiency, the role of tyres has often been underrated. Modern vehicles have undergone significant advancements over the decades, evolving from basic mechanical structures to sophisticated mechatronic and digital systems. However, for most, tyres remain largely unchanged – seemingly confined to the traditional black, rubber look without much technological upgrade.

The Tyre Pressure Monitoring System (TPMS), introduced in 1986 within high-end luxury cars, has yet to achieve global standardisation. Apart from a few countries where it is mandated, TPMS remains a novelty even in modern vehicles.

BANF (Begin a New Future), a South Korean start-up focusing on software and hardware technology to fully digitalise tyre information, is determined to change this. In an exclusive conversation with Tyre Trends, Ron Yoogun Lee, VP of Global Business Development at BANF, explains the company’s purpose:

“BANF was founded to address this critical need by integrating smart sensor technology and data analytics into tyre management. Our mission is to elevate vehicle safety, enhance tyre performance and reduce environmental impact through the digitalisation of tyre data. By providing real-time insights into tyre conditions, BANF empowers fleet operators, manufacturers and drivers to optimise maintenance, lower costs and promote sustainability. This drives us to tackle industry challenges with transformative solutions, pioneering a safer and more connected future for mobility.”

Expanding beyond basic TPMS capabilities

Lee explains that one of the primary limitations of current TPMS is its restricted data scope. Traditional TPMS sensors monitor tyre pressure at low frequencies, transmitting data every few minutes but focusing solely on air pressure.

BANF’s technology, however, gathers a wider range of tyre data, including pressure, temperature, tread wear, wheel alignment and even lug nut stability. This approach goes well beyond air pressure monitoring, providing insights that make tyres ‘smarter.’

Using machine learning, BANF’s system analyses the data to offer valuable insights to drivers and fleet operators regarding not only tyre health but also cargo load measurements and road surface conditions. The data is reportedly up to 90 percent accurate.

Lee details the core of BANF’s solution, which is built on two main components:

Tyre-Mounted Sensor (iSensor): A 3-axis accelerometer-based sensor attached (glued) inside the tyre’s inner liner, the only point of contact between the vehicle and the road.

Smart Profiler (Transmitter): Mounted on the mud flap or wheel arch and connected to the vehicle’s battery, this device wirelessly powers the sensor using magnetic resonance, gathering data on the tyre's internal and external conditions.

“Unlike standard TPMS, our system collects and analyses a comprehensive range of data points, offering real-time insights into tyre health and performance. This includes not only pressure but also factors such as temperature, tread wear and load, providing a more complete picture of the tyre’s condition,” he says.

BANF considers its unique selling point to be its advanced digitalisation and data analytics capabilities. The system empowers fleet managers, manufacturers and drivers to make proactive, data-driven decisions to enhance safety, optimise tyre performance and reduce maintenance costs. This comprehensive approach to tyre monitoring addresses the limitations of traditional TPMS, meeting the rising demand for safer, smarter and more efficient mobility solutions.

Continuous power and data collection

BANF’s technology enables continuous power supply to high-speed rotating tyres using resonant wireless power transmission. This allows the internal sensors to continuously collect data while driving, capturing 3-axis (X, Y, Z) accelerometer data to support advanced algorithm development. Additionally, BANF leverages mathematical modelling expertise to ensure high efficiency and minimal error in resonant wireless power environments.

Despite TPMS technology existing for over four decades, it still lacks widespread adoption. Why is that? Is it due to cost, awareness or maturity of the technology? Lee attributes the slow adoption of basic TPMS to limited consumer awareness and the system’s restricted functionality.

While TPMS provides basic air pressure information, it does not address other crucial aspects of tyre health, such as temperature, tread wear and load. This limited capability diminishes its perceived value, especially among consumers and manufacturers seeking comprehensive solutions.

“However, with the inevitable rise of electric vehicles (EVs) and autonomous vehicles (AVs), the demands on tyres are increasing. EVs, with their heavier batteries and higher torque, place additional stress on tyres, while AVs, designed for continuous operation, further amplify this strain. Traditional tyre monitoring methods, such as visual inspection, are inadequate for autonomous vehicles. As these trends reshape the automotive landscape, the need for advanced tyre monitoring systems that go beyond basic TPMS is growing. This shift will likely increase consumer awareness and drive the adoption of more comprehensive tyre monitoring solutions,” explains Lee.

While BANF may still be relatively unknown, the Korean start-up is already collaborating with major players like CampX by Volvo Group, Hyundai Motor Group, DHL and more than 20 other global organisations.

“Our primary target clients are fleet management companies operating commercial vehicles, particularly in the Truck and Bus Radial (TBR) segment. These clients benefit most from our advanced tyre monitoring solutions due to the significant return on investment (RoI) from optimised tyre usage, enhanced safety and reduced maintenance costs. By providing real-time insights into tyre health, we enable fleet operators to make data-driven decisions that minimise downtime and maximise efficiency. We currently produce 1,000 units monthly and are expanding our manufacturing capabilities,” shares Lee.

Plans for India and tyre safety

India, traditionally a cost-conscious market, has emerged as a major manufacturing hub and one of the fastest adopters of new technologies. In response to a question on BANF’s potential interest in India, Lee reveals:

“We are currently working with several companies in India, including major tyre manufacturers, vehicle manufacturers and last-mile fleet operators. We are supported by KISED, an arm of the Ministry of SMEs of Korea and NIPA, part of the Ministry of Science and ICT. We are actively engaging with stakeholders in the Indian innovation ecosystem and will be visiting India shortly to strengthen partnerships and explore further opportunities.”

Acknowledging India’s cost-sensitive market, Lee adds, “We are considering options for a facility setup worldwide, with India being one of our top choices.”

Road safety remains a priority for both the Indian automotive industry and the world. Despite numerous initiatives and technologies, the World Health Organisation (WHO) reports that 1.19 million lives are lost in road accidents each year. Road traffic injuries are the leading cause of death for children and young adults aged 5–29 years, with 92 percent of fatalities occurring in low- and middle-income countries.

Focus areas for tyre industry safety and efficiency

Lee identifies three key areas where the tyre industry can improve safety and efficiency:

1. Advanced Materials: Developing new tyre compounds that enhance durability and reduce rolling resistance can improve safety and energy efficiency. Lightweight, high-strength materials reduce energy loss and extend tyre life, crucial for EVs demanding lower energy consumption for longer range.

2. Intelligent Monitoring Systems: Smart sensors to monitor tyre health in real-time are increasingly essential. By tracking metrics such as pressure, temperature, tread wear and load, intelligent systems can alert drivers or fleet managers to potential issues before they escalate. This proactive approach enhances safety and fuel efficiency, as well-maintained tyres contribute to better aerodynamics and lower fuel consumption.

3. Sustainable Manufacturing: Optimising production to minimise environmental impact is crucial. Using eco-friendly materials, reducing waste and recycling tyres contributes to a more sustainable industry, aligning with global trends towards green manufacturing and supporting the energy efficiency goals of the automotive industry.

INTERVIEW: Ron Yoogun Lee

What are the upcoming key trends you see in the tyre industry?

One of the key trends in the tyre industry is the increasing emphasis on safety. As vehicles become more advanced, with a growing number of electric vehicles and autonomous vehicles entering the market, the demands placed on tyres are intensifying. EVs, for instance, have heavier loads and higher torque, which increase wear and tear on tyres, while AVs require consistent, reliable performance to operate safely around the clock. These factors are driving the need for smarter tyre solutions that go beyond traditional monitoring systems.

There is a growing demand for intelligent tyre technologies that provide real-time data on various parameters like pressure, temperature, tread wear and load. Such capabilities allow fleet operators, manufacturers and individual drivers to maintain tyre safety proactively, reduce maintenance costs and ensure optimal performance under diverse conditions. Meeting the advanced requirements of EV and AV clients is crucial, as their vehicles rely on enhanced tyre performance for safety and efficiency. As a result, the industry is moving towards digitalisation and smart sensors to address these evolving needs, marking a significant shift in tyre technology and monitoring.

What is BANF’s business plan (OE supplier), or you will also look at aftermarket opportunities?

BANF’s business plan primarily centres around building strong partnerships with Original Equipment (OE) manufacturers and OE suppliers. Our goal is to enhance tyre safety and efficiency directly at the manufacturing stage, ensuring that end customers benefit from high-quality, intelligent tyre solutions from the outset. Currently, our focus is on the commercial vehicle segment, where we see substantial demand for advanced tyre technology to improve safety, performance and operational efficiency.

That said, we also recognise the significant potential in the aftermarket sector and are actively exploring opportunities to expand into this space. The aftermarket offers us the chance to provide a wider range of products and services directly to end-users. By pursuing both OE partnerships and aftermarket avenues, we aim to deliver innovative tyre solutions that meet the evolving needs of our customers across the entire lifecycle of their vehicles.

What are the other products or areas that you would look to focus on?

Looking ahead, we still believe there is a lot can come out from tyre. We are currently developing many other advanced features to be announced soon. In a sense of product portfolio, we are looking into two-wheeler, three-wheeler market and also airplane tyres.

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Tana Oy has announced the appointment of Allan Bartholin Jacobsen as its new Territory Business Manager, effective 1 September 2026. He will be responsible for advancing the company’s international sales efforts, specifically concentrating on enhancing partnerships with dealers, identifying new avenues for growth and providing dedicated support to customers within designated regions.

Bringing over three decades of expertise in international sales and business development, Jacobsen joins the Finnish company from Eggersmann GmbH, where he managed sales strategies for recycling equipment across Europe and international markets. His previous roles involved cultivating dealer networks, expanding into new territories and driving sales performance in regions spanning Scandinavia, UK, Ireland, Switzerland, Italy, Southeast Asia, Australia and New Zealand.

This strategic hire underscores Tana’s ongoing commitment to bolstering its commercial operations and global outreach. The company continues to rely on its international dealer network to ensure localised service, deep market understanding and sustained operational benefits for waste management and recycling clients worldwide.

Gerd Schreier, VP – Sales, Marketing & Channel Development, Tana Oy, said, “Allan’s extensive industry knowledge, international experience, and proven ability to develop strong dealer partnerships make him a valuable addition to Tana. His experience in building markets and supporting distributors fits well with our ambition to grow closer to customers and create long-term value through our global dealer network.”

Jacobsen said, “I am excited to join Tana and become part of a company with a strong reputation for robust, intelligent waste management solutions. I look forward to working with Tana’s customers and dealers to support their business and help turn waste into value.”

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Dunlop Tires North America (DTNA) has named Matt Futrelle as its new Associate Vice President for the Truck and Bus Radial (TBR) division, effective 1 August 2026. The executive will assume leadership over the company’s TBR operations, directing strategic planning and growth initiatives while reinforcing the organisation’s dedication to high-quality products and service across the North American market.

Futrelle joins the role with over two decades of experience within the automotive aftermarket sector, recognised for his capabilities in leadership, operational efficiency and commercial expansion. His professional history includes building effective teams, cultivating strong client partnerships and implementing strategic frameworks that produce consistent, long-term performance outcomes for the businesses he has served.

Darren Thomas, CEO and President, DTNA, said, “Matt's leadership experience, industry expertise and commitment to excellence make him an outstanding addition to our leadership team. We are confident that his vision and customer-focused approach will help accelerate our growth in the TBR business and strengthen our position in the marketplace.”

Futrelle said, "I couldn't be more excited to join the Dunlop Tires North America team. We see significant opportunities to increase our participation in the North American Commercial Truck Tyre market bringing even more value to our commercial tire dealer and fleet partners. I am also happy to be a part of expanding the iconic Dunlop brand across North America. The brand holds a special place for me because I have such great memories growing up racing on Dunlop motocross tyres."

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Myers Industries has agreed to sell its Myers Tire Supply North America business to Lion Equity Partners for USD 30 million, as the US manufacturer sharpens its focus on engineered materials and core industrial markets.

The transaction, which has been completed, is subject to customary post-closing adjustments for cash, debt, net working capital and transaction expenses. The definitive agreement will be filed with the Securities and Exchange Commission.

The divestment marks a step in Myers’ strategy to reposition itself as a manufacturer of engineered resin and composite products serving infrastructure, industrial, consumer, food and beverage, and vehicle markets.

Aaron Schapper, President and Chief Executive of Myers Industries, said: “The completion of this transaction is a defining step in our ongoing transformation. By sharpening our focus on our core specialty engineered products, we are better positioned to drive long-term growth and create value for our shareholders.

“We also want to recognise the important role Myers Tire Supply has played throughout our history,” he added. “We are grateful for the dedication of the MTS team and the trusted relationships they have built with customers and the rest of the Myers team over many decades. We believe the business is well positioned for its next phase of growth under Lion Equity Partners’ ownership.”

Jim Levitas, Managing Partner at Lion Equity, said: “Myers Tire Supply has built a highly trusted brand through decades of exceptional service and commitment to its customers. We are excited to partner with the team to carry this legacy forward and support the company in its next chapter of growth.”

KeyBanc acted as exclusive financial adviser to Myers, while Vorys, Sater, Seymour and Pease served as legal adviser.

Founded in 1933, Myers Tire Supply distributes tools, equipment and supplies for the tyre, wheel and under-vehicle service industry across North America. The business employs 233 people, including 77 at its headquarters in Akron, Ohio, with the remainder working in sales roles and at four distribution centres.

Lion Equity Partners, based in Denver, focuses on corporate divestitures and special situations, aiming to create value through operational improvements, organic growth and acquisitions.

Myers Industries, headquartered in Akron, Ohio, manufactures plastic and metal products for a range of end markets, including consumer, vehicle, food and beverage, industrial and infrastructure.

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PCBL Chemical Limited has appointed Rohit Maindwal as Chief & Executive Director – Specialty Blacks and designated him as a senior management personnel, effective 20 August, 2026.

Maindwal brings around 32 years of industry experience. He holds a BTech in chemical engineering from the National Institute of Technology, Warangal. His previous roles include positions at Reliance Industries Limited and JBF RAK LLC, where he most recently served as Senior Executive Vice-President at Reliance Industries Limited.

The company said the appointment is in a full-time capacity, with the term not separately specified.

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