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Carpediem Capital invests a whopping $6 Mn in mobile repair service provider Gadgetwood

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India is the second largest mobile market globally, having sold 100 million phones last year. And with this rapid uptick in mobile sales, one can easily expect an increase in shattered screens, bricked phones, among other problems. But, a Delhi-based startup Gadgetwood is offering consumer repairs and support services for mobiles/tablets across all brands and has added some fresh money to its coffers for the same.

Announced today, the company has raised a whopping $6 million from Carpediem Capital. It plans to utilize the funding towards geographical expansion, creating a nationwide network for servicing mobile devices and selling refurbished products.

It also intends to establish their presence in ten more cities across the country, and broaden the scope of our repairs capabilities to include, laptops, wearable tech, LED TVs, etc. And the company plans to do the same in the next year or so.

Founded in 2013 by Jayant Jha, Ankit Saraf and Anmol Gupta, the company also operates in the refurbished device sales markets. Other value-added solutions offered by Gadgetwood include warranties and insurance to new smartphone buyers, and warranty management services to warranty selling companies.

Speaking about the investment, Jayant Jha, Co-Founder & CEO, Gadgetwood, said,

We look forward to the support of Carpediem Capital, while building a credible service orgnaisation providing best in class services for every mobile device in the country.

Gadgetwood has state-of-the-art repair facilities and its in-house repair capabilities allow the company to offer after-repair warranty on all successful repairs. The company repairs in excess of 10,000 devices every month and is an authorized service provider for many leading mobile manufacturers.

Abhishek Sharman, founder and MD of the India-focused private equity fund Carpediem Capital will be joining the board of the company soon. He said the repairs & refurbishment market in India is highly fragmented and unorganized, and there is a significant opportunity for a company like Gadgetwood to create a scalable business servicing a large gap in the industry. He also commented,

The investment in Gadgetwood is very much in line with Carpediem’s philosophy to invest in emerging leaders in the organized services category. 

Furthermore, we believe that the Gadetwood team is driven to provide every customer a fulfilling experience with the most personal device in the customer’s life.

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