91Trucks Secures New Funding Round

91Trucks, the platform dedicated to commercial vehicle listings, is about to secure a fresh funding round amounting to Rs 30-35 crore ($3.5-4 million), based on information from informed sources.

Funding Led by Arkam Ventures

Arkam Ventures is heading the Rs 30-35 crore funding initiative in 91Trucks, with several existing investors likely to contribute, as per sources. The deal’s terms have been agreed upon, and an official announcement is anticipated shortly.

About 91Trucks

Established in 2022 by Abhishek Gautam, Siddharth Sharma, and Vikas Sharma, 91Trucks is based in Gurugram and offers users reviews, specifications, and customer ratings for trucks, buses, and three-wheelers. This assists individuals in making knowledgeable buying choices.

91Trucks collaborates closely with automotive manufacturers, dealers, banks, and non-banking financial companies (NBFCs) to provide IT solutions and financing alternatives.

Previous Funding and Valuation Insights

In May 2024, 91Trucks obtained seed funding from investors such as Titan Capital, Atrium Angels, and Sparrow Capital. However, this funding round was not publicly announced.

According to insider information, the post-money valuation for 91Trucks is projected to be between $15-20 million.

Stakeholders and Financial Performance

91Trucks chose not to comment on this information, and queries directed to Arkam Ventures went unanswered at the time of publication. As reported by various startup data intelligence platforms, Titan Capital holds the largest external stake in the company at 5.78%, followed by Sparrow Capital at 4.72%.

For the fiscal year concluding in March 2024, 91Trucks recorded revenues of Rs 10.11 crore, compared to Rs 3.95 crore in FY23. The company reported losses of less than Rs 1 crore during the previous fiscal year.

Investment Plans of Arkam Ventures

Arkam Ventures, known for supporting companies such as Jar, Kreditbee, Jai-Kisan, Jumbotail, and Signzy through its inaugural fund, launched its second fund worth $180 million in June 2023. The aim is to invest in approximately 20 early-stage startups.