Full-stack commercial vehicle platform 91Trucks secures $5 million in Series A round
Gurugram-based startup, 91Trucks, has successfully raised $5 million in a Series A funding round led by Arkam Ventures. The round also saw participation from Titan Capital Winners Fund, Sparrow Capital, and Atrium Angels, among others. The company, founded in 2022 by Siddharth Sharma, Vikas Sharma, and Abhishek Gautam, operates a unique phygital platform tailored for small fleet owners and first-time buyers of commercial vehicles.
91Trucks provides end-to-end services, including vehicle discovery, financing, insurance, fitness checks, RTO transfers, and access to affordable service infrastructure. The startup aims to simplify the process for small fleet operators and driver owners who often face challenges in accessing high-quality used vehicles and financing options.
Expansion Plans and Vision
The fresh funds will be used to expand the startup’s technology and product suite, grow its team, and enhance its offline presence by establishing more than 20 retail stores in Tier 2 and Tier 3 cities. Currently operating seven offline stores across key locations, including Delhi, Gurgaon, Faridabad, Meerut, and Jaipur, 91Trucks has ambitious plans to enter markets like Hyderabad, Bengaluru, Bhubaneswar, and the Northeast in the near future.
Investor Confidence and Industry Outlook
Bala Srinivasa from Arkam Ventures highlighted the pivotal role of logistics in India’s economic growth and expressed confidence in 91Trucks’ ability to address the challenges faced by small fleet operators. Shiv Kapoor of Titan Capital Winners Fund emphasized the startup’s innovative phygital approach and its potential to become a trusted brand in the commercial vehicle segment.
With a focus on scaling its annual sales to 10,000 vehicles over the next three years, 91Trucks is well-positioned to tap into the vast market of small commercial vehicle owners in India and streamline their vehicle acquisition and management processes.
