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Gadgetwood's Venture Round Pulls in $6 Million from Carpediem Capital

Bengaluru: A New Delhi based mobile repair and refurbishment company, Gadgetwood, receives $6 million in its venture funding round led by Carpediem Capital. The company plans to use the capital for geographical expansion and to create a nationwide network for servicing mobile devices and selling refurbished products. Last year, Gadgetwood had raised an undisclosed amount of venture funding from various investors like Ajai Chowdhry (Founder, HCL Infosystems), Ashvin Chadha (Founder, Anicut Capital), Yogesh Bansal (Founder & CEO, and Nitin Singhal (MD, Fresco Global).

Jayant Jha, Co-Founder & CEO, Gadgetwood, states, “The team at Gadgetwood is committed to high levels of customer service and satisfaction. India is the second largest mobile market 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 organized consumer electronics repair & refurbishment industry”.

Brainchild of Jayant, Ankit Saraf (Founder & CFO) and Anmol Gupta (Founder & CTO), Gadgetwood was founded in 2013 to offer reliable repair and support services for mobiles and tablets of all brands to the users. The company provides value-added solutions such as warranty management services to warranty selling companies, and warranties & insurance to new smartphone buyers.

As an authorised service provider for a leading mobile manufacturer, every month, Gadgetwood repairs nearly 10,000 devices. Currently, the company has 50,000 customers, and has repaired more than 60,000 smartphones and 20,000 tablets since its inception.

“We intend to establish our 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, and others. We look forward to the support of Carpediem Capital, while building a credible service organisation providing best in class services for every mobile device in the country,” opines Jayant.

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