Update: 91Trucks raises $5 Mn in Series A round

Update: 91Trucks, a full-stack commercial vehicle platform, has raised $5 million in Series A funding led by Arkam Ventures, with participation from existing investors, Titan Capital Winners Fund, Sparrow Capital, and Atrium Angels.  

The funds will be used to expand its product and technology capabilities, scale its team and expand its offline retail footprint to over 20 stores. 

Founded in October 2022, 91Trucks handles the entire process, including providing access to affordable financing, handling insurance, fitness checks, and RTO transfers, ensuring seamless and reliable ownership experience.  In the next 3 years, 91Trucks is targeting to sell 10,000 CVs annually.

Original story follows:

91Trucks, an online platform specializing in commercial vehicle listings, raised Rs 42.9 crore ($5 million) in its Series A round led by Arkam Ventures through associate (Unitary Fund), with the participation from Titan Capital, Sparrow Capital, and Atrium Angels.

91Trucks' board has issued 2,247 Series A CCPS at an issue price of Rs 1,88,578 each to raise the aforementioned amount, its regulatory filings accessed from the Registrar of Companies (RoC) show.

Arkam Ventures led the round with Rs 25.2 crore (approximately $3 million) followed by Titan Capital, which injected Rs 15 crore. Sparrow Capital and Atrium Angels also joined the round with Rs 1.73 crore and Rs 1 crore investment, respectively.

Entrackr was the first to report the development  last month.

The proceeds from this round will be utilized for capital expenditures, marketing, and general corporate purposes, the filings said.

As per Entrackr’s estimates, the Gurugram-based company’s valuation has soared 5.5X to Rs 280 crore or $33 million (post-allotment of Series A round), compared to Rs 50.47 crore at the time of its seed round.

Launched in 2022, 91Trucks offers information on new and used trucks, buses, and auto rickshaws—including prices, specs, comparisons, and dealer contacts. As per its website, it also runs five physical stores in Delhi-NCR and Meerut for affordable used vehicle purchases.

Startup data platform TheKredible shows Arkam Ventures as the largest external shareholder in the company with a 9% stake, followed by Titan Capital (5.35%) and Sparrow Capital (4.94%).

For the fiscal year ending in March 2024, 91Trucks reported Rs 10.11 crore revenue, compared to Rs 3.95 crore in FY23. Looking at the bottom line, its losses stood at less than Rs 1 crore. It’s yet to disclose FY25 numbers.

Update at 1:30 PM (Thursday): The story and headline have been updated to include more information from 91Trucks' official press release.