BeepKart raises $3 million in seed round

BeepKart, a full-stack online retailer of used 2-wheelers has announced that it has raised a $3 million seed round led by Stellaris Venture Partners and Chiratae Ventures.

The round also saw participation from angel investors like Varun Alagh (Mamaearth), Sahil Barua (Delhivery), Vivekananda Hallekere (Bounce), Kunal Shah (CRED), Ramakant Sharma (Livspace) and Rajesh Yabaji (Blackbuck).

Founded by Hemir Doshi and Abhishek Saraf, BeepKart is taking a tech-first approach to address the trust deficit in the massive used 2-wheeler market.

BeepKart aims to improve experience between buying and owning new and used 2-wheelers. Unlike classifieds platforms, vertical-focused BeepKart provides used 2-wheeler buyers the required confidence on price, quality and after-sales service.

“2-wheelers form over 80% of India’s vehicle base, and there are 7 times as many used 2-wheelers sold every year as used cars. Buying a scooter or motorcycle is one of the key purchase decisions by the Indian consumer, yet the market suffers from a lack of rules and a great trust deficit,” Hemir Doshi, Co-founder & CEO, BeepKart said.