Company Research Report: BeepKart

Company Overview

• Name: BeepKart

• Mission: BeepKart is on a mission to bring affordable personal mobility to millions. They aim to provide trust, convenience, and value-for-money, challenging the need to buy new two-wheelers by offering certified, refurbished, quality-tested used bikes.

• Founded: 2020

• Founders: Hemir Doshi and Abhishek Saraf

• Key People:

• Hemir Doshi, Co-founder & CEO

• Abhishek Saraf, Co-founder & COO

• Nikhil Vaidya, CTO

• Headquarters: Bengaluru, Karnataka, India

• Number of Employees: No information is available.

• Revenue: No information is available.

• Recognition: Known as India's most trusted place to buy and sell used bikes, BeepKart is recognized for providing refurbished, high-quality bikes with a digital-first approach. It was awarded the ET Business Excellence for Most Trusted E-commerce Platform.

Products

• Primary Offering: BeepKart provides a platform for buying and selling used two-wheelers.

• Product Description:

• Warranty and Assurance: Buyers receive a comprehensive warranty of up to 2 years on engine and transmission.

• Refurbishment: BeepKart offers high-quality refurbished bikes ensuring reliability akin to new bikes.

• Test Ride Option: Customers can test ride their desired bikes at home or a BeepKart hub.

• Easy Financing: Offers easy EMI options with quick digital loan processing.

• Money-back Guarantee: A 3-day return policy allows customers to return their bikes if unsatisfied.

Each bike undergoes a stringent refurbishment process involving inspection, repair, and polishing, helping maintain the highest quality standards.

Recent Developments

• Funding:

• In 2021, BeepKart raised $3 million in a seed round.

• The company raised $9 million in a Series A round led by Vertex Ventures, with participation from Stellaris Venture Partners and Chiratae Ventures.

• Additionally, BeepKart raised INR 7.5 Crore, led by InnoVen Capital.

• Achievements:

• BeepKart was recognized by Economic Times as the Most Trusted E-commerce Platform.

• Featured as one of the 30 Startups To Watch, marking significant growth and innovation in the mobility sector.

• Market Expansion: Operating in cities like Bangalore and Chennai, BeepKart offers its services and products in major urban centers, with plans for future geographic expansion.

Conclusion

BeepKart stands out in the market due to its commitment to providing affordable, high-quality personal mobility solutions. By leveraging technology and ensuring trust and convenience, BeepKart challenges traditional vehicle purchasing models, successfully bridging customer trust gaps in the pre-owned two-wheeler market. With ongoing financial backing and a commitment to customer satisfaction, BeepKart is set to continue its growth trajectory in the coming years.