BeepKart is taking a tech-first approach to address the trust deficit in the massively used 2-wheeler market
BeepKart, a full-stack online retailer of used 2-wheelers, has raised $3 million in a seed round led by Stellaris Venture Partners and Chiratae Ventures. The round also saw participation from angel investors including tech founders 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 bridge the wide gap in 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.
According to Google’s Auto Gear Shift India 2020 report, 90% of new 2-wheeler buyers go online from initial research to final purchase. This behavior is seen across price points and in metros and towns. On BeepKart’s platform buyers can conveniently browse, select and book their preferred used 2-wheeler right from their mobile phones.
Hemir Doshi, Co-founder & CEO, BeepKart said, “2-wheelers form over 80% of India’s vehicle base, and there are seven 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. In our view, 2-wheelers are more amenable to online sales than cars, and the decision to buy and sell is made more quickly."
The business is currently live in Bengaluru and will expand to 3 more locations over the next 12 months.
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