Speedioo Raises INR 10 Crore Seed Funding Led by Atomic Capital

Pune-based used two-wheeler platform Speedioo has raised INR 10 crore in a seed funding round led by Atomic Capital, marking its first institutional capital raise. The company said the proceeds will be used to strengthen its technology platform, expand distribution operations, deepen OEM partnerships and scale its dealer and retail network.

Founded by former CredR and Rentomojo executives Sagar Potphode and Ajit Deshmukh, Speedioo operates in the used two-wheeler segment and is building an omnichannel platform spanning procurement, pricing, refurbishment, supply chain and customer experience. The company plans to invest in an AI-enabled technology stack aimed at supporting processes such as vehicle sourcing, assessment, pricing and sales.

Speedioo said it recorded more than fivefold growth in topline over the last 12 months while remaining EBITDA-positive and cashflow positive. The company has reported gross merchandise value (GMV) of over INR 30 crore and sales of more than 4,000 vehicles during the period.

The company currently works with more than 200 dealer partners across Bengaluru, Mumbai and Pune and plans to expand its distribution footprint into additional cities. It also intends to increase its retail presence through a franchise-led model and strengthen operational infrastructure as part of its next phase of growth.

Speedioo is targeting an annual recurring revenue (ARR) of over INR 100 crore within the next 12–18 months. Its growth plans include expanding sourcing channels, strengthening relationships with OEMs, increasing dealer penetration, introducing financing and warranty products, and entering new Tier 1, Tier 2, Tier 3 and Tier 4 markets.

India’s used two-wheeler market is estimated to be worth around USD 28 billion and is approximately 1.5 times the size of the new two-wheeler market by volume, according to the company. The segment remains largely unorganised, presenting opportunities for organised and technology-led players.

“We are building a trusted and sustainable consumer brand focused on personal mobility, while using technology and operational capabilities to address challenges around trust, accessibility and affordability in the used two-wheeler market,” said Sagar Potphode, co-founder and CEO, Speedioo.