Circle, a pre-owned goods marketplace, has raised Rs 25 crore in a seed round. That works out to about USD 2.6 million, and Nexus Venture Partners led the round. Circle will use the money to expand beyond Bengaluru, its first market.
Existing investors Titan Capital and Myntra cofounder Raveen Sastry also participated. Ajith Pai, chief operating officer at Delhivery, joined the round as an angel investor.
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What The Money Is For
Circle will strengthen its AI-powered pricing, product discovery and verification tools. It also plans to expand its logistics network and its Trust Hubs, the centres that handle product verification and fulfilment.
The bigger task is geographic. Circle has so far run only in Bengaluru, and this round is aimed at proving the model works in a second market.
How The Model Works
Circle was founded in 2025 by Chirag Kataruka and Ankit Misra. It runs a managed marketplace for pre-owned goods, handling product verification, payments and logistics between individual buyers and sellers.
The key detail is that Circle does not own the inventory. It manages the transaction instead, which keeps the balance sheet light. At the same time it takes on the parts of resale that buyers do not trust.
The platform combines AI tools with human verification. Categories range from smartphones, gaming consoles and cameras to furniture, watches, handbags and sneakers.
Circle handles listing, pickup and seller payouts. Buyers get product verification and a three-day guarantee, which is the part that separates it from a plain classifieds listing.
Traction So Far
Circle says it facilitated around Rs 25 crore in pre-owned goods sales within a year of launch. It also claims over 1 million visitors and 1 lakh listings in Bengaluru.
The company says sellers typically find buyers within three days, against weeks or months on classifieds platforms. That speed claim is its main pitch to both sides of the market.
Circle previously raised Rs 3.4 crore in a pre-seed round led by Titan Capital in November last year. Sastry participated then as well.
Competition And The Market
The pre-owned goods space in India already has scale. Circle competes with classifieds platforms OLX India and Quikr, electronics-focused Cashify and community resale platform FreeUp.
Those players overlap with Circle across categories and services rather than following the same operating model. Circle’s bet is that managing the transaction, rather than listing it, is what gets people to buy used goods at higher value.
India’s recommerce market is projected to reach USD 5.91 billion in 2026 and USD 8.61 billion by 2030. That works out to a compound annual growth rate of about 9.8 percent over the period, according to ResearchAndMarkets.