Overview
Pune-based used two-wheeler platform Speedioo has successfully raised ₹10 crore in a seed funding round led by Atomic Capital. The startup, founded by former CredR and Rentomojo executives Sagar Potphode and Ajit Deshmukh, aims to use the infusion of capital to enhance its AI-native technology stack, expand its distribution footprint, and strengthen its network of OEM and dealer partners.
Operational Performance
Speedioo has demonstrated strong financial discipline, reporting a fivefold increase in topline growth over the past 12 months. Notably, the company has achieved this growth while remaining EBITDA and cash-flow positive. Key traction metrics include:
- Over ₹30 crore in Gross Merchandise Value (GMV).
- More than 4,000 vehicles sold in the last year.
- A network of over 200 dealer partners across Bengaluru, Mumbai, and Pune.
Strategic Vision
The company plans to utilize AI across its entire value chain—specifically for vehicle sourcing, assessment, and price discovery. Furthermore, Speedioo is strategically pivoting toward the electric vehicle (EV) sector, establishing partnerships with manufacturers to facilitate exchange programs and capitalize on the rising demand for EV resale. The firm has set an ambitious target of reaching ₹100 crore in ARR within the next 12 to 18 months through expansion into new cities and the launch of value-added services like financing and warranties.