Used two-wheeler marketplace Vutto raises $7 Mn in Series A round led by RTP Global

Used two-wheeler marketplace Vutto has raised $7 million (around Rs 61.4 crore) in a Series A funding round led by RTP Global along with participation from existing investor Blume Ventures.

Prior to this funding round, the Delhi-based startup had raised a seed funding of $1 million from Blume Ventures and a host of angel investors.

The proceeds will be utilized to expand its footprint across Delhi NCR, enter new cities, and strengthen its core operations like supply, refurbishment, and customer service capabilities, Vutto said in a press release.

Co-founded in 2024 by Rohit Khurana and Sitaram Ankilla, Vutto operates a full-stack platform for buying and selling used two-wheelers. The platform allows users to browse certified vehicles online, take a test ride at its physical showrooms, and purchase two-wheelers that come with a six-month warranty and support for paperwork, insurance, and financing. 

According to a market research, around 9 million pre-owned two-wheelers were sold in India in FY24, generating estimated revenue of $3.8 billion.

Vutto claims to have sold 1,500 vehicles within a year of its inception. The startup has three showrooms in Delhi, and claims that vehicles on its platform typically sell within 12 days of listing. It also claims to have established partnerships with banks and financial institutions for selling repossessed two-wheelers.

Recently, BeepKart, a similar startup, shut down its operations after a nearly five-year run. Its rival CredR shut down operations in October last year, while Cars24 also exited its Moto business, a similar vertical.

The other notable players in this space are Bikewale, BikeDekho, and RoamPrime.