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Funding · Mobility & Logistics

Speedioo raises ₹10 crore seed funding led by Atomic Capital

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Date
Company
Speedioo
What it does
used two-wheeler platform
Kind
Funding
Amount
₹10 crore
Stage
seed
Based in
Pune
Founded
October 2024
Sector
Mobility & Logistics

What they do

Speedioo is a used two-wheeler platform that sources, refurbishes, and distributes pre-owned motorcycles and scooters through dealer partners

What happened

The company raised ₹10 crore in a seed round led by Atomic Capital, which will be used to build an AI-native tech stack, expand distribution, and scale its…

Why it matters

Speedioo has grown topline revenue by over 5X in the past year while maintaining EBITDA and cash flow positivity, and aims to cross ₹100 crore in annual…

The details

  • Speedioo, a used two-wheeler platform, raised ₹10 crore in a seed funding round led by Atomic Capital. This marks the company's first institutional fundraise.
  • The funds will be used to build an AI-native technology stack, expand distribution across key demand centres in India, and scale the company's dealer and retail network.
  • Speedioo plans to expand its presence to three or four additional cities and grow its retail footprint through a franchise model.
  • The company currently operates in Pune, Mumbai, and Bengaluru, with over 200 dealer partners.
  • Speedioo has crossed ₹30 crore in gross merchandise value (GMV) and sold over 4,000 vehicles in the past year.
  • The company aims to achieve ₹100 crore in annual recurring revenue within the next 12 to 18 months.
  • Speedioo is targeting Tier 2, 3, and 4 markets, where accessibility and affordability are key considerations for buyers.

The bigger picture

  • India's used two-wheeler market is estimated at approximately $28 billion, roughly 1.5 times the volume of the new two-wheeler market.
  • Despite this scale, the sector remains over 95% unorganised, with no dominant consumer brand having emerged.
  • Recent exits and consolidation among well-funded competitors have created an opening for capital-efficient operators to establish themselves in the category.

About the business

  • Speedioo operates a platform for buying and selling pre-owned motorcycles and scooters in India.
  • The company works with over 200 dealer partners across Bengaluru, Mumbai, and Pune.
  • Speedioo sources, refurbishes, and distributes used two-wheelers through a full-stack business-to-business (B2B) model.
  • The company plans to expand into a business-to-consumer (B2C) model, investing in an AI-native tech stack to integrate AI into its value chain.
  • Speedioo aims to grow its dealer network tenfold over the coming year while introducing financing and warranty products.

What happens next

  • Speedioo plans to expand to three or four additional cities, including Delhi-NCR and Hyderabad.
  • The company aims to grow its retail footprint through a franchise model.
  • Speedioo will invest in building customer experience and fulfillment capabilities backed by technology-led operational infrastructure.

The deal

Type
funding

Investors

  • Atomic Capital (lead) — Early-stage venture capital firm focused on capital-efficient, operator-led startups.

Founders

  • Sagar Potphode, Co-Founder & CEO
  • Ajit Deshmukh, Co-Founder

About Speedioo

Product
Omnichannel platform for procurement, pricing, refurbishment, and sales of used two-wheelers
Customers
Indian consumers seeking transparent and reliable used two-wheeler purchases
How it makes money
B2C marketplace with franchise-led retail network
What sets it apart
AI-native technology stack for vehicle assessment, pricing discovery and sales operations; EBITDA and cash-flow positive

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