Yaantra, a New Delhi-based smartphone repair and resale startup has now secured Rs. 15 crore in the venture capital from the alternative investment firm Anicut Capital, according to the report.
According to the report, the investment has been made with non-convertible debentures and the newly acquired funds will be going to be used for expansion of the market and also to meet working capital needs.
Yaantra is operated and managed by the Gadgetwood eServices. It was founded by the Ankit Saraf, Jayant Jha, and Anmol Gupta in the year 2013. The startup provides an online platform to sell refurbished smartphones, as well as some other accessories with warranty.
At present, it is providing services in Mumbai, Bangalore, Pune, Hyderabad, Chennai, Ahmedabad, and New Delhi. Some other startups in this category include the GreenDust, Zoomo, Cashify, Budli, Zefo, and others.
The startup also offers on-demand mobile repair services for water damage, software problems, power issues, broken glass, etc. Apart from these, Yaantra provides smartphones from a wide range of brands which include Huawei, Sony, Honor, HTC, Asus, Motorola, Apple, Samsung, and others.
The startup has claimed that so far, they have repaired more than 60,000 smartphones and has served more than 1,20,000 customers. In 2017, Yaantra raised $3.1 Million in a funding round from Carpediem Capital and Duane Park.
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