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

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.