Used two-wheeler sale-purchase platform Beepkart raises USD 9 million

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New Delhi: Beepkart, an online platform for the sale and purchase of used two-wheelers, has raised USD 9 million in a funding round led by Vertex Ventures. The series-A round also saw participation from existing investors Stellaris Venture Partners and Chiratae Ventures.

Stellaris and Chiratae Ventures had led the USD 3-million seed round of the Bengaluru-based startup in September 2021, Stellaris said in a statement on Wednesday. ()

Founded in early 2021 by Hemir Doshi and Abhishek Saraf, Beepkart offers a transparent and product-led journey to sellers and buyers of used two-wheelers. ()

While used car sales are more than double new car sales, the used two-wheeler market is not that big, even though there are 24 crore two-wheelers on road.

According to industry reports, the used two-wheeler market is around USD 10 billion but is plagued by a lack of trust, convenience and value for money.

The startup will use the fresh capital for building internal products and systems and to scale up the business geographically.