91Trucks Secures $5 Million in Series A Funding for Its Full-Stack Commercial Vehicle Platform
In a Series A funding round led by Arkam Ventures, the full-stack commercial vehicle platform 91Trucks raised $5 million, or around Rs 41.7 crore, with Atrium Angels, Titan Capital Winners Fund, and Sparrow Capital also participating.
The business from Gurugram intends to use the funding to develop its workforce, add more technology and products, and fortify its offline presence by opening more than 20 retail locations in Tier 2 and Tier 3 cities.
Founded in 2022 by Siddharth Sharma, Vikas Sharma, and Abhishek Gautam, 91Trucks operates a phygital (physical + digital) platform tailored to small fleet owners and first-time buyers of commercial vehicles. Its end-to-end services include vehicle discovery and financing, along with post-purchase support like insurance, fitness checks, RTO transfers, and access to affordable service infrastructure.
“Over 55% of CV sales in India comprise of small commercial vehicles, primarily used for last mile delivery and owned by small fleet owners and driver operators. We are on a mission to organize and grow this segment. We are building a full-stack platform for fleet operators, removing the existing frictions plaguing the CV industry,” said Siddharth Sharma, cofounder and CEO of 91Trucks.
The firm already runs seven physical locations in Delhi, Gurgaon, Faridabad, Meerut, and Jaipur. It now intends to expand into regions in the Northeast, Hyderabad, Bengaluru, and Bhubaneswar. It wants to increase its yearly sales to 10,000 cars during the following three years.
Investors comment
Bala Srinivasa, Managing Director at Arkam Ventures, said, “As India charts to become an $8 trillion economy over the next decade, logistics will be a key driver of this expansion, especially driven by trends like quick commerce. India’s logistics and transportation ecosystem comprises small fleet operators and driver owners who move 80% of India’s goods, yet face persistent challenges in accessing high-quality used vehicles and financing.”
Shiv Kapoor, Vice President at Titan Capital Winners Fund, said, “91Trucks is approaching this big market with a phygital solution, which fits well for India. Their ability to build a trusted brand in this space will give them the right to offer not just the vehicles but allied services in a one-stop shop approach. We have seen with the initial stores how buyers resonate with their offering. The founders are a great fit for this business as they understand the biggest pain points and opportunities that they can tackle in a tech-first way.”
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