Get All Access for $5/mo

BeepKart Raises $9 Million In Series A Funding Round The company is able to solve customer pain-points comprehensively in this high-value and high-consideration category, while ensuring healthy margins

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

BeepKart, a full-stack online platform of used two-wheelers, has raised $9 million in Series A round led by Vertex Ventures South East Asia and India. The round also witnessed participation from existing investors Stellaris Venture Partners and Chiratae Ventures, who had led the $3 million Seed round of the company in September, 2021.

"The BeepKart team has patiently built out its playbook in Bengaluru, is profitable at a city level and is ready to gradually replicate elsewhere while continuing to learn. In essence, we are challenging the need to buy an expensive new two-wheeler when a BeepKart bike is available to upgrade the consumer's life," said Hemir Doshi, co-founder and CEO, BeepKart.

Founded in 2021 by Hemir Doshi and Abhishek Saraf, BeepKart is taking a digital-first approach that offers a transparent and increasingly product-led journey to sellers and buyers. The company is able to solve customer pain-points comprehensively in this high-value and high-consideration category, while ensuring healthy margins, as per a statement.

"We are excited to back Hemir and Abhishek in their endeavor to build a brand that solves for all issues that impact trust among buyers and sellers: price transparency, service delivery, product warranty, and many others. It takes a lot to deliver this, and the team's razor-sharp focus on operating excellence is what sets BeepKart apart," said Piyush Kharbanda, general partner, Vertex Ventures Southeast Asia and India.

Vertex Ventures Southeast Asia and India is part of the Vertex global network of venture capital funds. Its global network also comprises affiliates in Silicon Valley, China, and Israel, according to the company's statement.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
News and Trends

Recur Club Announces Credit Offerings for Startups Beyond Series A and SMEs

In FY 24–25, the platform also plans to deploy an additional INR 2000 crores through its Recur Swift program for startups.

News and Trends

Stride Ventures Launches Fourth Fund with USD 300 Mn Target Corpus

Industry leaders like BlueStone, Upstox, Moneyview, Ather, Pharmeasy, Infra.Market, and Ola Electric have benefited from Stride's support.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

News and Trends

India's Data Center Capacity to Reach 2,070 MW by End of 2025: CBRE

Cumulative investment commitments in the data center sector in India to cross USD 100 billion by 2027. Mumbai, Chennai, and Delhi-NCR to lead data center supply addition

News and Trends

Supply-Chain Financing Platform Mintifi Raises USD 180 Mn in Series E, Valuation Soars to USD 850 Mn

The raised funding will enable Mintifi to diversify its product offerings, such as dealer management systems, loans against property, and factoring services, powered by artificial intelligence.

Business News

I Tried Buying a Car on Amazon. Here Are the Pros and Cons.

Amazon Autos just launched, and users can buy a new car online. Here's how it works and what needs to improve.