BeepKart, a full-stack online retailer for used two-wheelers, said it has raised a $3 million seed round led by Stellaris Venture Partners and Chiratae Ventures.
The round saw participation from Varun Alagh of Mamaearth, Sahil Barua of Delhivery, Vivekananda Hallekere of Bounce, Kunal Shah of CRED, Ramakant Sharma of Livspace and Rajesh Yabaji of Blackbuck.
Founded by Hemir Doshi and Abhishek Saraf, BeepKart aims to bridge the wide gap in experience between buying and owning new and used two-wheelers.
“Two-wheelers form over 80% of India’s vehicle base, and there are seven times as many used two-wheelers sold every year as used cars. In our view, two-wheelers are more amenable to online sales than cars, and the decision to buy and sell is made more quickly," Hemir Doshi, co-founder and CEO of BeepKart, said.
Currently, the company is live in Bengaluru and will expand to three more locations over the next 12 months.