India-based motorcycle refurbisher BeepKart has extended its Series A funding round, raising an additional INR540 million ($6.5 million U.S.).

According to an Entrackr report, existing investors Chiratae Ventures, Stellaris Venture Partners and Vertex Ventures participated in round.

BeepKart has passed a resolution to issue 45,203 Series A2 compulsorily convertible preference shares (CCPS) at an issue price of INR11,935 apiece to raise the said sum.

The round values the Bengaluru-based company at INR3.6 billion.

Temasek Holdings led the Series A round in October 2022, when BeepKart raised about INR745 million. In September 2021, it raised INR222 million in a seed funding round from multiple angel investors.

Founded by Hemir Doshi and Abhishek Saraf, BeepKart operates in Bengaluru and Chennai, selling refurbished bikes with three free services, a one-year warranty, assured buyback and a three-day trial. Its revenue reached INR218 million during the 12 months to March 2023.

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