Speedioo raises INR 10 crore to scale AI -Powered used two-wheeler platform

Speedioo, a Pune-based used two-wheeler platform, has secured INR 10 crore in seed funding led by Atomic Capital. This marks the company's first institutional capital raise. The funds will support AI-led technology development, network expansion, OEM partnerships, and growth in multiple cities.

Key Highlights

• Speedioo raised INR 10 crore in seed funding led by Atomic Capital
• The company reported over INR 30 crore GMV and 4000 vehicles sold in 12 months
• Plans to expand dealer network and enter new cities using AI-driven technology

Funding and Expansion Plans

Speedioo plans to use the new capital to strengthen its technology platform and expand its distribution operations. The company will also deepen partnerships with original equipment manufacturers (OEMs) and scale its dealer and retail network. Speedioo currently works with more than 200 dealer partners across Bengaluru, Mumbai, and Pune. It aims to expand its distribution footprint into additional cities and increase its retail presence through a franchise-led model.

The company was founded by Sagar Potphode and Ajit Deshmukh, both former executives at CredR and Rentomojo. Speedioo operates an omnichannel platform that covers procurement, pricing, refurbishment, supply chain, and customer experience for used two-wheelers.

Technology and Market Performance

Speedioo is investing in an AI-enabled technology stack to support vehicle sourcing, assessment, pricing, and sales processes. Over the past 12 months, the company reported more than fivefold growth in topline revenue while remaining EBITDA-positive and cash flow positive. During this period, Speedioo achieved a gross merchandise value (GMV) of over INR 30 crore and sold more than 4,000 vehicles.

The company is targeting an annual recurring revenue (ARR) of over INR 100 crore within the next 12 to 18 months. Plans include expanding sourcing channels, strengthening OEM relationships, increasing dealer penetration, and introducing financing and warranty products. Speedioo also aims to enter new Tier 1, Tier 2, Tier 3, and Tier 4 markets in India.

Market Context and Future Strategy

According to Speedioo, India’s used two-wheeler market is valued at around USD 28 billion. It is approximately 1.5 times larger than the new two-wheeler market by volume. The segment remains largely unorganized, which presents opportunities for organized and technology-driven companies.

Speedioo’s co-founder and CEO, Sagar Potphode, stated that the company is building a trusted and sustainable consumer brand focused on personal mobility. He emphasized the use of technology and operational capabilities to address challenges related to trust, accessibility, and affordability in the used two-wheeler market.

Also Read: Exponent Energy raises 21.1 million to accelerate EV charging expansion

CarBike 360 Says

Speedioo’s latest funding round marks a significant step toward redefining the used two-wheeler market in India through AI-driven innovation. With a focus on transparency, accurate pricing, and seamless digital experiences, the company is well-positioned to scale rapidly. As demand for reliable pre-owned mobility grows, Speedioo could emerge as a key disruptor in this evolving automotive segment.