BeepKart, an online retailer of used two-wheelers, has raised $3 million in its seed round led by Stellaris Venture Partners and Chiratae Ventures. A clutch of angels such as Varun Alagh, Sahil Barua, Vivekananda Hallekere, Kunal Shah, Ramakant Sharma, Rajesh Yabaji and Rajesh Sawhney have also joined the round.
The funding money will be used in building its engineering team to deliver on its tech and product first goals, said BeepKart in a press release.
Founded by Hemir Doshi and Abhishek Saraf, BeepKart allows buyers to conveniently browse, select and book their preferred used 2-wheeler right from their mobile phones.
The business is currently Live in Bengaluru and will expand to three more locations over the upcoming 12 months. BeepKart will engage throughout the buyer’s ownership lifecycle by providing reliable spare parts, services, accessories, loans, and insurance for the used bikes through network partners, the statement said.