BeepKart Raises $9 Million In Series A Funding Led By Vertex Ventures

BeepKart, a full-stack online platform of used two-wheelers, has raised $9 million in a Series A round led by Vertex Ventures South East Asia and India. Existing investors Stellaris Venture Partners and Chiratae Ventures also participated in the funding round.

As per the startup, the raised funds will be used towards building the digital user journey for an enhanced customer experience, brand and operational excellence and accelerate the geographical scaling of the business.

BeepKart | Buy & Sell Used Bikes Online

Founded by Hemir Doshi and Abhishek Saraf in 2020, BeepKart digitally sells as-good-as-new, value-for-money two-wheelers.

The Bengaluru-based mobility startup is building a platform to digitise and organise the used two-wheeler market. It is taking a digital-first approach and offers a transparent and increasingly product-led journey to sellers and buyers.

Speaking about the development, Hemir Doshi, Co-founder and CEO of BeepKart, said,

A combination of an internal and external product-led strategy, operational excellence across the stack of activities and the right value system can help transform the used two-wheeler market which is far more unorganised than the used-car market.”

Co-founders of BeepKart

As per the startup, its full-stack model helps buyers to rely on transparent images and bike inspection reports and make online reservations. Additionally, the platform enables buyers to get an at-home test ride, purchase the bike with full payment or on loan, and have a hassle-free ownership experience with a one-year warranty and three free services.

Commenting on the development, Ritesh Banglani, Stellaris Venture Partners, said,

“Since our initial investment in BeepKart, the company has demonstrated strong momentum in both business volume and economics. Their offerings of online booking and home test drives are seeing strong customer traction. We continue to be huge believers in BeepKart’s trust-focused offering and are delighted to back the company in their Series A round.”

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