Circle, a Bengaluru-based pre-owned goods marketplace, has raised ₹25 crore (approximately US$2.6 million) in a Seed funding round led by Nexus Venture Partners. Existing investors Titan Capital and Myntra co-founder Raveen Sastry participated, while Delhivery COO Ajith Pai joined the round as an angel investor. The company plans to use the fresh capital to expand beyond Bengaluru and strengthen its AI-powered pricing, product discovery, and verification tools.
Funding Details and Investor Support
The Seed round was led by Nexus Venture Partners, with continued participation from Titan Capital and Myntra co-founder Raveen Sastry. Ajith Pai, Chief Operating Officer of Delhivery, also joined the round as an angel investor. Circle previously raised ₹3.4 crore in a Pre-Seed round led by Titan Capital in November last year, with participation from Raveen Sastry.
Company Origins and Founding Team
Founded in 2025 by Chirag Kataruka and Ankit Misra, Circle was created to make buying and selling pre-owned goods as easy and reliable as buying new products. The founders focused on trust, payment, and logistics challenges that often discourage people from transacting in used goods. Circle combines AI-native technology, human verification, and managed fulfillment to address these issues.
Managed Marketplace Model
Circle operates a managed marketplace where individuals buy and sell pre-owned goods across categories including smartphones, gaming consoles, cameras, furniture, watches, handbags, and sneakers. The startup does not own inventory but handles product verification, payments, logistics, pickup, and seller payouts for transactions between individual buyers and sellers. Buyers receive product verification and a three-day guarantee, which is designed to build confidence in secondhand purchases.
Early Traction in Bengaluru
Circle claims to have facilitated around ₹25 crore in pre-owned goods sales in Bengaluru within a year of launch. The platform attracted over 1 million visitors and generated 100,000 listings in the city. According to the startup, its managed model allows sellers to close transactions faster than on classifieds platforms, where sales can take weeks or months.
Expansion Plans and Trust Hubs
The fresh capital will support Circle's expansion beyond Bengaluru and investments in AI-powered pricing, product discovery, and verification tools. The company also plans to grow its logistics network and Trust Hubs, which handle product verification and fulfillment. These hubs are expected to play a key role in maintaining service quality as the startup enters new cities.
Technology and Verification Approach
Circle's platform combines AI-native tools with human verification to improve pricing accuracy and reduce the risk of fraud in pre-owned transactions. The startup manages listing, pickup, and seller payouts while offering buyers verified product information and a three-day guarantee. This approach is designed to make pre-owned purchases feel as structured and dependable as buying new goods, which remains a core part of the company's value proposition.
Competitive Landscape and Market Outlook
Circle operates in a pre-owned goods market that includes classifieds platforms OLX India and Quikr, electronics-focused player Cashify, and community resale platform FreeUp. These players overlap with Circle across different categories and services, but the startup differentiates itself by managing transactions directly. According to ResearchAndMarkets, India's recommerce market is projected to reach US$5.91 billion in 2026 and US$8.61 billion by 2030, growing at a CAGR of 9.8% over the 2026 to 2030 period.
Circle's Seed funding round reflects growing investor confidence in India's organized recommerce segment. The startup's managed marketplace model directly addresses verification, payment, and logistics barriers that have traditionally limited pre-owned goods transactions. As it expands beyond Bengaluru, Circle will need to scale its technology, logistics, and trust infrastructure while competing with established resale and classifieds platforms.