You are here: Home » Companies » Start-ups » News

Carpediem Capital leads investment of $6mn in mobile repair, refurbishment co Gadgetwood

Company plans to utilise this round of funding towards geographical expansion

On-demand repair services & refurbishment company, Gadgetwood, raised approximately $6 million in funding from Carpediem Capital, an India-focused private equity fund, and its investors. Abhishek Sharman, founder and MD of Carpediem Capital, will be joining the board of the company as part of the investment.

The company plans to utilise this round of funding towards geographical expansion, creating a nationwide network for servicing mobile devices and selling refurbished products.

Founded in 2013, by three young entrepreneurs Jayant Jha, Ankit Saraf and Anmol Gupta, offers the Indian consumer reliable repair and support services for mobiles and tablets across all brands. The company also operates in the refurbished device sales markets.

Other value-added solutions offered by include warranties and insurance to new smartphone buyers, and warranty management services to warranty selling companies.

Jayant Jha, co-founder & CEO, Gadgetwood, said, “India is the second largest globally, having sold 100 million phones last year, thereby creating a significant opportunity to service these devices. By providing end-to-end solutions for the entire product lifecycle, we aim to become the ‘most preferred & trusted service provider’ to our customers, and a leader in the organised consumer electronics repair & refurbishment industry. We intend to establish a presence in 10 cities across the country over the next year, and broaden the scope of our repairs capabilities to include laptops, wearable tech, LED TVs, etc.”

The company repairs in excess of 10,000 devices every month and is an authorised service provider for a leading mobile manufacturer, said a press statement from the company.

Commenting on the investment, Sharman said, "The repairs & refurbishment market in India is highly fragmented and unorganised, and there is a significant opportunity for a company like to create a scalable business servicing a large gap in the industry. Since their inception, the company has strived to become the category leader in the markets in which it operates. Furthermore, we believe that the team is driven to provide every customer a fulfilling experience with the most personal device in the customer’s life.”

Carpediem Capital’s earlier investments include Adinath Agro and Briyani Blues.

image
Business Standard
177 22
Business Standard

Carpediem Capital leads investment of $6mn in mobile repair, refurbishment co Gadgetwood

Company plans to utilise this round of funding towards geographical expansion

Shivani Shinde  |  Pune 

Mutual funds' share in m-cap at a new high

On-demand repair services & refurbishment company, Gadgetwood, raised approximately $6 million in funding from Carpediem Capital, an India-focused private equity fund, and its investors. Abhishek Sharman, founder and MD of Carpediem Capital, will be joining the board of the company as part of the investment.

The company plans to utilise this round of funding towards geographical expansion, creating a nationwide network for servicing mobile devices and selling refurbished products.

Founded in 2013, by three young entrepreneurs Jayant Jha, Ankit Saraf and Anmol Gupta, offers the Indian consumer reliable repair and support services for mobiles and tablets across all brands. The company also operates in the refurbished device sales markets.

Other value-added solutions offered by include warranties and insurance to new smartphone buyers, and warranty management services to warranty selling companies.

Jayant Jha, co-founder & CEO, Gadgetwood, said, “India is the second largest globally, having sold 100 million phones last year, thereby creating a significant opportunity to service these devices. By providing end-to-end solutions for the entire product lifecycle, we aim to become the ‘most preferred & trusted service provider’ to our customers, and a leader in the organised consumer electronics repair & refurbishment industry. We intend to establish a presence in 10 cities across the country over the next year, and broaden the scope of our repairs capabilities to include laptops, wearable tech, LED TVs, etc.”

The company repairs in excess of 10,000 devices every month and is an authorised service provider for a leading mobile manufacturer, said a press statement from the company.

Commenting on the investment, Sharman said, "The repairs & refurbishment market in India is highly fragmented and unorganised, and there is a significant opportunity for a company like to create a scalable business servicing a large gap in the industry. Since their inception, the company has strived to become the category leader in the markets in which it operates. Furthermore, we believe that the team is driven to provide every customer a fulfilling experience with the most personal device in the customer’s life.”

Carpediem Capital’s earlier investments include Adinath Agro and Briyani Blues.

RECOMMENDED FOR YOU

Carpediem Capital leads investment of $6mn in mobile repair, refurbishment co Gadgetwood

Company plans to utilise this round of funding towards geographical expansion

Company plans to utilise this round of funding towards geographical expansion
On-demand repair services & refurbishment company, Gadgetwood, raised approximately $6 million in funding from Carpediem Capital, an India-focused private equity fund, and its investors. Abhishek Sharman, founder and MD of Carpediem Capital, will be joining the board of the company as part of the investment.

The company plans to utilise this round of funding towards geographical expansion, creating a nationwide network for servicing mobile devices and selling refurbished products.

Founded in 2013, by three young entrepreneurs Jayant Jha, Ankit Saraf and Anmol Gupta, offers the Indian consumer reliable repair and support services for mobiles and tablets across all brands. The company also operates in the refurbished device sales markets.

Other value-added solutions offered by include warranties and insurance to new smartphone buyers, and warranty management services to warranty selling companies.

Jayant Jha, co-founder & CEO, Gadgetwood, said, “India is the second largest globally, having sold 100 million phones last year, thereby creating a significant opportunity to service these devices. By providing end-to-end solutions for the entire product lifecycle, we aim to become the ‘most preferred & trusted service provider’ to our customers, and a leader in the organised consumer electronics repair & refurbishment industry. We intend to establish a presence in 10 cities across the country over the next year, and broaden the scope of our repairs capabilities to include laptops, wearable tech, LED TVs, etc.”

The company repairs in excess of 10,000 devices every month and is an authorised service provider for a leading mobile manufacturer, said a press statement from the company.

Commenting on the investment, Sharman said, "The repairs & refurbishment market in India is highly fragmented and unorganised, and there is a significant opportunity for a company like to create a scalable business servicing a large gap in the industry. Since their inception, the company has strived to become the category leader in the markets in which it operates. Furthermore, we believe that the team is driven to provide every customer a fulfilling experience with the most personal device in the customer’s life.”

Carpediem Capital’s earlier investments include Adinath Agro and Briyani Blues.
image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard