91trucks Bags Rs 43 Cr Funding Led By Arkam Ventures, Others

Commercial vehicle marketplace 91trucks has raised Rs 42.92 Crore (around $5 Mn) in a funding round led by Arkam Ventures.

The round also saw participation from Titan Capital, Sparrow Capital and Atrium Angels.

As per filings with the Registrar of Companies (RoC), 91trucks has issued 2,276 Compulsory Cumulative Convertible Preference Shares (CCCPS) at a premium price of Rs 1,88,578 each to investors including Arkam Ventures, Titan Capital, Sparrow Capital and India Accelerator.

Read also- Celcius Logistics Raises Rs 250 Cr Funding In Series B Round

Arkam Ventures invested Rs 25 Cr, while Titan Capital put in Rs 14.99 Cr, Sparrow Capital Rs 1.73 Cr and India Accelerator Rs 99.99 Lakh in this round.

The funds from this round will be used for equipment, marketing and other business needs, according to the filings.

About 91trucks

Founded in 2022 by Siddharth Sharma, Abhishek Gautam, and Vikas Sharma, Delhi NCR-based 91trucks is a platform that helps people buy and review commercial vehicles like trucks, buses and three-wheelers. It connects users with official dealers and manufacturers.

The startup also offers vehicle loans through its NBFC partners and plans to enter the used commercial vehicle market soon.

It has also launched two special platforms—91Infra for construction vehicles and 91tractors for farm tractors.

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