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Speedioo Raises Rs 100 Million in Seed Funding

2026-06-16

Consumer-tech platform Speedioo has raised Rs 100 million in a seed funding round led by Atomic Capital, marking its first institutional fundraise. The company plans to utilise the capital to strengthen its AI-native technology stack, expand distribution across key markets, deepen partnerships with OEMs and scale its dealer and retail network.

As part of its expansion strategy, Speedioo aims to extend its presence to three to four additional cities while growing its retail footprint through a franchise-led model. The company also plans to invest in senior leadership and build technology-driven operational capabilities across its value chain.

Co-founded by former CredR and Rentomojo executives Sagar Potphode and Ajit Deshmukh, Speedioo has recorded more than five-fold topline growth over the past 12 months while remaining EBITDA-positive and cash-flow positive. The company has achieved gross merchandise value (GMV) of over Rs 300 million and sold more than 4,000 vehicles during the period.

"At Speedioo, we are building much more than a used two-wheeler company. We are building a trusted and sustainable consumer brand for the next billion Indians aspiring to own personal mobility," said Sagar Potphode, Co-Founder and CEO, Speedioo. "Our vision is to build India's most trusted omnichannel and technology-driven platform in this category by combining deep operational execution with innovative product and technology infrastructure."

Speedioo currently works with more than 200 dealer partners across Bengaluru, Mumbai and Pune and expects to increase this network tenfold over the coming year. The company is also targeting annual recurring revenue of more than Rs 1 billion within the next 12 to 18 months.

Commenting on the investment, Apoorv Gautam, Founder and Managing Partner, Atomic Capital, said the used two-wheeler segment presents a significant opportunity due to its scale, premiumisation trends and the absence of a dominant organised player. He added that Speedioo's capital-efficient approach and early focus on profitability aligned with the firm's investment philosophy.

India's used two-wheeler market is estimated to be worth approximately $28 billion and is around 1.5 times the size of the new two-wheeler market by volume. With more than 95 per cent of the segment remaining unorganised, Speedioo said it sees substantial potential to build a trusted, technology-led brand focused on expanding access to affordable mobility solutions across Tier I, II, III and IV markets.

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