Source - VCCircle

Yaantra, the New Delhi-based smartphone repair and the resale startup has raised INR 15 crores ($2 million) from Anicut Capital. According to VCCircle’s resources, the investment is made through non-convertible ventures.

The startup will use for the working capital needs and expansion to new geographical locations and markets. However, neither Yaantra not Anicut Capital has confirmed the development.

Founded by Jayant Jha, Anmol Gupta and Ankit Saraf, Yaantra provides an online platform to sell refurbished smartphones and accessories with warranty. It is owned by Gadgetwood services.

The startup also offers on-demand mobile repair services including repairing of broken glass, water damages, software issues as well as power related problems. Popular brands like Xiaomi, One Plus, Honor, Asus, Samsung, Apple, Motorola and HTC are available on the platform.

[irp posts=”21391″ name=”List of Top 10 Mobile Companies in India [Updated 2018]”]

The startup has repaired more than 60,000 smartphones and has served over 1,20,000 customers via its platform. Yaantra is currently operational in New Delhi, Mumbai, Chennai, Pune, Ahmedabad, Bengaluru and Hyderabad.

Earlier in October last year, the startup raised INR 21 crores ($3.1 million) from Carpedium Capital and Duane Park. It has raised a total of $9 million in multiple funding rounds, according to data provided by CrunchBase.

Several other startups compete with Yaantra. They include CredR, Zoomo, GreenDust, Budli, Cashify and Zefo, among many others.

Earlier in August this year, Servify raised INR 106 crores in series B round of funding from Iron Pillar, Blume Ventures and Beenext. Also in the same month, Flipkart launched its own refurbished e-commerce platform 2GUD.

In June this year, Cashify raised $12 million from Morningside Group and CDH Investments in series C round of funding. Investors like Bessemer Venture Partners and Shunwei Capital participated in the round.


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