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JustLikeNew.In raises USD 500K from angel investors

Press Trust of India  |  Mumbai 

Smartphone repair e-commerce platform JustLikeNew.In today said it has raised funds worth USD 500,000 (about Rs 3.3 crore) through LetsVenture.Com, from angel investors executive chairman Krishnakumar Natarajan and former Oracle MD, Sandeep Mathur.

Existing investors Aneesh Reddy and Vikas Tandon have also reinvested in the company, it said in a statement here.

The start-up is productizing over 10,000 smartphone repair services on its platform.

Incepted in mid-2014 and formally launched next year, the start-up currently provides free pickup and drop services for smartphones and tablets with a service turnaround time of 48 hours, bringing high-quality repair at customers' doorstep.

JustLikeNew.In has also established a dominant presence in the B2B segment through partnerships with Uber, Ola, Swiggy and Qualcomm for smartphone servicing, and offers pan-services through its strategic partnership with 3PL, it said.

"With the number of smartphone owners estimated to cross 702 million by 2020, there is immense scope for our service network in the country's after-sales repair space. We are confident that the adoption of online-based repair services will continue to grow at an accelerated pace in the future as well," Ajit Panigrahi, Co-founder, JustLikeNew.In, said.

By making cost-effective, value-driven and high-quality repair and maintenance services available to smartphone owners across the country, JustLikeNew.In is trying to organize a mostly unorganised market.

The company, which is currently operational in Bangalore, Hyderabad and Delhi-NCR, has witnessed 5 times revenue growth between July 2015 and March 2016 owing to an average month-on-month growth rate of 25 per cent.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, September 20 2016. 16:02 IST