Used Two-Wheeler Platform Vutto Raises USD 7 Mn in Series A Round The Series A round was led by RTP Global, with participation from existing investor Blume Ventures.
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Vutto, a Bengaluru-based startup focused on the used two-wheeler market, has raised USD 7 million in a Series A round led by RTP Global, with participation from existing investor Blume Ventures.
The startup had earlier secured a seed funding of USD 1 million in a round led by Blume Ventures with contributions from founders of Swiggy, OfBusiness, Tracxn, BatterySmart, SuprDaily, Panthera Peak Capital, and other strategic angel investors.
The fresh capital will be used for strengthening Vutto's core pillars of supply, refurbishment, and customer experience. The company plans to deepen its presence in the NCR before expanding to new markets.
Founded in 2024 by Rohit Khurana and Sitaram Ankilla, Vutto offers a hybrid online and offline platform for pre-owned two-wheelers. The startup provides refurbished bikes with a six-month warranty, three free services, and complete paperwork support including RC transfer, insurance, and financing. Customers can explore options digitally, book test rides at showrooms, and purchase refurbished vehicles that are typically sold within 12 days of listing.
"This is a business of building a strong store-level funnel and running a low-cost operating model so that unit economics work. Our first store, launched just a year ago, is already profitable and contributing to net profits. The task ahead is to replicate that 'one store, one box' playbook at 1,000x scale," said co-founder Sitaram Ankilla.
Even as Vutto has raised fresh capital, the organised used two-wheeler space appears to be in stress. To put things in perspective, Bengaluru-based BeepKart recently shut down its operations.
The five-year-old startup had raised over USD 18 million in different funding rounds from investors like Chiratae Ventures, Stellaris and Vertex. Prior to the shutdown, BeepKart had conducted mass layoffs that had affected over 100 employees.
Earlier, CredR, which had secured USD 42.1 million from investors including Yamaha Motors, exited the market in mid-2024.
