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BeepKart shuts down after raising $18 million
BeepKart, the Bengaluru-based platform for buying and selling used two-wheelers, has officially shut down after about five years in business.
The founders are now looking to sell off company assets and tech, aiming to return leftover funds to investors.
They've promised support for existing customers during this transition.
BeepKart joins list of failed startups
Even with over $18 million raised since 2021 and a big jump in revenue last year, BeepKart couldn't shake off mounting losses—₹66 crore in FY24 alone.
The shutdown follows earlier layoffs and the closure of their Chennai operations.
It's not just them—other players like CredR and Cars24 have also exited the used two-wheeler space recently, showing how tough this market really is for startups trying to make it work.