- By Shreyansh Mangla
- Wed, 27 Aug 2025 03:48 PM (IST)
- Source:JND
BeepKart OpsBeepKart, a Bengaluru-based two-wheeler selling platform, has shut down its operations, effective August 27, 2025. The company, which had a four-year run, began as a two-wheeler seller and expanded to become a leading platform for selling pre-owned two-wheelers in India. However, its collapse was attributed to mounting losses, unplanned expansion, and poor service quality. BeepKart released a statement on its website, announcing the closure and assuring existing customers of continued support.
Despite raising over Rs 157.91 crore from investors and expanding to multiple cities, the company struggled financially. Its high operating costs, which exceeded profit margins, and a business model heavily dependent on expensive bike refurbishments contributed to its financial woes. While revenue grew, its losses also doubled.
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Furthermore, within four years, the company experienced significant top leadership turnover, and customers frequently complained about the poor quality of bikes and services. Founders Hemir Doshi and Abhishek Saraf are reportedly in talks to sell the remaining assets and use the proceeds to initiate refunds for their investors.
BeepKart began as a full-stack startup aiming to facilitate the buying and selling of second-hand two-wheelers, with services that included inspection, refurbishment, financing, and warranties. In April 2024, the company raised USD 5.6 million in its Series A round from existing investors.
Despite being valued in the millions, the company could not offset its incurred losses, such as the USD 7.9 million (Rs 66 crore) loss in the fiscal year 2024 alone. The co-founders are currently looking to sell the company's assets and technology to pay off debts to investors and firms that had invested capital in the business.
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This news comes just weeks after the startup shut down its Chennai operations, immediately laying off all employees. According to a report by Entrackr, BeepKart had also executed mass layoffs in the previous fiscal year. Despite an earlier claim of shifting to an asset-light model, the firm struggled to sustain its business.
Similar businesses, such as CredR and Cars24, have also closed their two-wheeler operations, as they struggled to grow in India's fragmented two-wheeler market, which is on a downward slope despite the heavy demand for personal mobility.