Startup Profile

Beepkart

Legal entity: Beepkart Technologies Private Limited

Full-stack marketplace for used two-wheelers in India

E-commerceSeries BMarketplace· Bengaluru, Karnataka· Est. 2020Website ↗
BeepKart was a Bengaluru-based, full-stack online marketplace for buying and selling used two-wheelers, founded by Hemir Doshi and Abhishek Saraf. It inspected, refurbished and sold pre-owned motorcycles and scooters along with financing, insurance and warranty services. After raising about 18 million dollars, it shut operations in August 2025 amid thin margins and mounting losses.
Funding raised
₹156.10 Cr
Total disclosed
Latest valuation
₹362.00 Cr
Most recent round
Latest revenue
₹39.33 Cr
FY FY23
Employees
—
FY FY23

Founders

  • Hemir Doshi

    Co-founder and CEO of BeepKart. Before starting BeepKart he worked in the venture capital sector and was associated with IDG Ventures India (now Chiratae Ventures). He co-founded BeepKart in Bengaluru to build a full-stack marketplace for used two-wheelers.

  • Abhishek Saraf

    Co-founder of BeepKart and an IIT Bombay alumnus. He previously was Business Head for B2B at Shuttl and ran a SaaS venture before co-founding BeepKart in Bengaluru.

Funding rounds

  1. Series A (extension)2024-04-03₹54.00 CrLed by Existing investors (no new lead)
  2. Series A2022-10-04₹74.55 CrLed by Vertex Ventures SEA
  3. Seed2021-09-01₹24.90 CrLed by Stellaris Venture Partners and Chiratae Ventures

Financials

MCA / self-reported
Fiscal yearRevenueProfit / (Loss)Employees
FY23₹39.33 Cr(₹30.27 Cr)—
FY24₹100.39 Cr(₹65.99 Cr)—

The full story

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Timeline

  1. 2025-08Shut down operations — Ceased operations after about four to five years, laid off the remaining team, and moved to sell assets and return capital to investors. M&A talks did not materialise.
  2. 2025Layoffs and store closures — Laid off around 130 employees over five months, halved store count, and shut Chennai operations amid cost-cutting.
  3. 2024-04Extended Series A of $6.5M — Raised about $6.5 million (Rs 54 crore) from existing investors at a valuation of roughly Rs 362 crore.
  4. 2022-10Series A of $9M led by Vertex Ventures — Closed a $9 million Series A led by Vertex Ventures SEA, with Stellaris and Chiratae participating.
  5. 2021-09Seed round of $3M — Raised about $3 million led by Stellaris Venture Partners and Chiratae Ventures, with angels Varun Alagh and Sahil Barua.
  6. 2020Founded in Bengaluru — Beep Innovations Private Limited launched, initially as a phygital distribution platform for new electric two-wheelers before pivoting to the used two-wheeler space in 2021.

Data sources

  • seed-list↗ · last fetched 2026-05-28
  • Inc42 (Series A / seed)↗ · last fetched 2026-06-01
  • Entrackr (extended Series A)↗ · last fetched 2026-06-01
  • Inc42 (shutdown)↗ · last fetched 2026-06-01
  • TheKredible (FY24 financials, Tofler-sourced)↗ · last fetched 2026-06-01
  • Tofler (Beep Innovations Pvt Ltd)↗ · last fetched 2026-06-01
Updated 2026-06-01