Used two-wheeler e-marketplace Beepkart raises $9 million in round led by Vertex Ventures

Online two-wheeler marketplace Beepkart said it has raised $9 million in a funding round led by Vertex Ventures South East Asia & India.

The round also saw participation from existing investors Stellaris Venture Partners and Chiratae Ventures, which had led the company’s $3 million seed round in September 2021.

Beepkart said that the money will be used to scale up the business, customer experience, internal products and systems, as well as branding and operations.

Over the course of the Covid pandemic, the used-car market grew significantly, leading to the emergence of multiple unicorns such as Cars24, Cartrade, and Cardekho, as tech companies solved multiple customer pain points such as pricing, quality checks and assurance in the largely unorganised market.