Used two-wheeler marketplace BeepKart raised $9 million in funds led by Vertex Ventures, the investment arm of Singapore’s sovereign fund Temasek Holdings where existing investors Stellaris Venture Partners and Chiratae Ventures also participated.
BeepKart is a full-stack platform that allows users to buy and sell used two-wheelers online. The startup operates in the highly unorganised used two-wheeler market and provides all services under one roof, such as documentation and inspection. BeepKart will use the funds to carry out its “business plan.” Through its network partners, BeepKart also offers other services such as spare parts, accessories, loans, and insurance for used bikes. BeepKart is currently only available in Bengaluru. The startup had previously stated plans to expand to three new geographies, but has yet to expand its operations outside of the startup hub.