Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
Consumer-tech platform Speedioo has raised INR 10 crore in a seed funding round led by Atomic Capital, marking its first institutional investment. The Pune-based company plans to utilise the capital to develop an AI-native technology platform, expand distribution across key markets, strengthen OEM partnerships and scale its dealer and retail network. Speedioo reported more than fivefold growth in revenue over the past 12 months while remaining EBITDA and cash flow positive. The company has recorded gross merchandise value (GMV) of INR 30 crore and sold over 4,000 vehicles. With more than 200 dealer partners across Bengaluru, Mumbai and Pune, Speedioo is targeting over INR 100 crore in annual recurring revenue (ARR) within the next 12 to 18 months while expanding into additional cities and strengthening its position in India’s largely unorganised used two-wheeler market.
Consumer-tech company Speedioo has secured INR 10 crore in seed funding from Atomic Capital, providing the company with growth capital to expand its presence in India’s used two-wheeler market and invest in technology-led operations.
The funding, announced in Pune this week, marks Speedioo’s first institutional fundraising round. The company plans to deploy the capital towards building an AI-native technology stack, expanding distribution across major demand centres, strengthening partnerships with original equipment manufacturers (OEMs) and scaling its dealer and retail network.
As part of its expansion strategy, Speedioo intends to increase its retail footprint through a franchise-led model while also strengthening its leadership team. The company is developing an integrated AI-enabled platform designed to streamline procurement, pricing, vehicle assessment and resale processes across the used two-wheeler value chain.
Founded by Sagar Potphode and Ajit Deshmukh, both former senior executives at CredR and Rentomojo, Speedioo has recorded more than fivefold growth in topline revenue over the past year while maintaining EBITDA profitability and positive cash flow.
The company has achieved gross merchandise value (GMV) of INR 30 crore and sold more than 4,000 vehicles over the last 12 months. It has also focused increasingly on higher-value two-wheelers, reflecting growing demand for premium products within the second-hand vehicle segment.
Commenting on the fundraising, Sagar Potphode, Co-Founder and Chief Executive Officer of Speedioo, said the company’s objective extends beyond selling used two-wheelers and focuses on building a trusted mobility platform for consumers seeking affordable personal transportation. He stated that the sector continues to face challenges related to transparency, trust and customer experience, and added that the company aims to address these issues through technology, operational efficiency and a strong retail presence.
He further noted that while metropolitan markets remain important, substantial long-term growth opportunities exist across Tier II, Tier III and Tier IV cities, where affordability and accessibility play a critical role in vehicle ownership decisions.
Speedioo currently works with more than 200 dealer partners across Bengaluru, Mumbai and Pune and plans to increase this network tenfold over the coming year. The company has also established partnerships with electric vehicle manufacturers for exchange programmes, positioning itself to participate in the growing EV resale market.
Apoorv Gautam, Founder and Managing Partner of Atomic Capital, said the used two-wheeler market presents a significant opportunity due to its scale and increasing consumer preference for premium vehicles. He noted that despite the market being approximately 1.5 times larger than the new two-wheeler market, no organised player has yet established a dominant consumer brand in the segment.
According to the company, India’s used two-wheeler market is valued at approximately USD 28 billion and remains more than 95% unorganised. Speedioo believes the sector offers substantial opportunities for technology-led businesses that can address issues around pricing transparency, vehicle quality and customer trust.
Looking ahead, the company is targeting more than INR 100 crore in annual recurring revenue over the next 12 to 18 months. Growth plans include entering two to three additional cities during the current financial year, expanding dealer partnerships, launching financing and warranty products, opening new retail stores and broadening sourcing channels across intercity and intracity markets.
The company’s strategy is centred on supply expansion, demand generation and channel growth as it seeks to establish a larger presence within India’s evolving mobility ecosystem.
Advertisement
Facebook
Whatsapp
