Full-stack retailer of two-wheelers BeepKart raises $6.5M in funding: Report

BeepKart, a full-stack retailer of two-wheelers, has raised Rs 54 crore (approximately $6.5 million) in an extended Series A funding round led by existing investors.

The investors who participated in the round include Chiratae Ventures, Stellaris Venture Partners, and Vertex Ventures. The funding will help the startup to fuel its expansion plans and solidify its market presence.

Last fortnight, BeepKart partnered with the influencer marketing agency Let’s Influence to spearhead a campaign to boost brand awareness in Bangalore and Chennai.

Investment from investors 

"The board at BeeKart has passed a special resolution to issue 45,203 Series A2 CCPS at an issue price of Rs 11,935 each to raise Rs 54 crore," Entrackr reported, citing the company's regulatory filing.

The report said that the startup has already received Rs 33.2 crore from Chiratae and Stellaris Venture Partners, with the remainder expected soon. Prior to this, In October 2022, It raised $9 million in a Series A round from Vertex Ventures Southeast Asia and India, Stellaris Venture Partners, and Chiratae Ventures.

What does BeepKart do?

Founded by Hemir Doshi and Abhishek Saraf, BeepKart offers a comprehensive solution for purchasing used two-wheelers. Unlike traditional online classifieds, The startup provides customers with a full stack of services, including spare parts, services, accessories, loans, and insurance through network partners.

Currently, It has operations in Bengaluru and Chennai and plans to expand its presence across other cities.