VC Fund Investments
Used 2-wheelers retailer BeepKart raises $6.5 M from Chiratae, Stellaris, Vertex
Bengaluru-based BeepKart , a retailer of used two-wheelers, has extended its Series A round by raising INR 54 crore (about USD 6.5 million) from its existing investors including Chiratae Ventures, Stellaris Venture Partners, and Vertex Ventures.BeepKart will issue 45,203 Series A2 CCPS (compulsorily convertible preference shares) at INR 11,935 each. The company has already received the first tranche of INR 33.2 crore from Chiratae and Stellaris.BeepKart last raised USD 9 million in its Series A round led by Vertex Ventures in October 2022. The company has raised around USD 18.5 million to date and is valued at around INR 362 crore (USD 44 million) post-allotment of new shares.Co-founded by its CEO Hemir Doshi , BeepKart sells used two-wheeler brands such as Honda, TVS, Suzuki, Bajaj, Yamaha, Hero, and KTM. It currently operates in Bengaluru and Chennai and plans to expand its operations to other cities.
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