Thursday, December 1, 2022
HomeInsightFunding Alert Vertex Ventures leads Series A round in BeepKart

[Funding alert] Vertex Ventures leads Series A round in BeepKart

BeepKart, a marketplace for used two-wheelers, has raised $9 Mn (INR 74.55 Cr) in a strategic fundraising round that was spearheaded by Vertex Ventures.
Team BeepKart

BeepKart, a marketplace for used two-wheelers, has raised $9 Mn (INR 74.55 Cr) in a strategic fundraising round that was spearheaded by Vertex Ventures.

According to a regulatory filing with the Registrar of Companies, the board of BeepKart has approved a special resolution to issue 62,043 Series A compulsory cumulative preference shares at a price of $145.06 per share in order to raise $90,00,102, or Rs 72.3 crore, as per reported by Entracker.

Read also – How Brands are leveraging Influencers this festive season to grow their consumer base

Vertex Ventures led the round with Rs 36.6 crore, and BeepKart received investments from Stellaris Ventures and Chiratae Ventures totaling Rs 18.31 crore each.

Hemir Doshi and Abhishek Saraf founded BeepKart to make it easy for customers to browse, choose, and reserve their chosen secondhand 2-wheeler brands, including Honda, TVS, Suzuki, Bajaj, Yamaha, Hero, and KTM. In addition to offering trustworthy spare parts, services, accessories, loans, and insurance for used motorcycles through network partners, the organisation sets itself apart from online ads.

The funding will be used by BeepKart to carry out its “business plan.”

Read also – Cricketer Anil Kumble Invests in Health Insurance Startup Onsurity

About BeepKart

BeepKart is building a platform to digitize and organize the used two-wheeler market. The team has backgrounds in serial entrepreneurship, tech VC, mobility, software, and fast-scaling start-up operations. The company is adequately seed-funded by the founders.

RELATED ARTICLES
- Advertisment -

Most Popular

- Advertisment -

Also Read

- Advertisment -
Newsletter

Subscribe to our weekly newsletter and don't forget to check out the latest updates.