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Carpediem Capital invests $6 million in Gadgetwood

Livemint:  September 22, 2016

Mumbai:​ On-demand repair services & refurbishment company, Gadgetwood ​has ​ raise​d​ ​$6 million from Carpediem Capital, an India focused private equity fund, and its investors ​, said a company statement on Thursday.​

Abhishek Sharman, ​founder and ​managing ​director of Carpediem Capital, will be joining the board of the company as part of the investment.

Founded in 2013, by Jayant Jha, Ankit Saraf and Anmol Gupta, Gadgetwood offers repair and support services for mobiles and tablets across all brands. The company also operates in the refurbished device sales markets. The company repairs in excess of 10,000 devices every month and is an authorized service provider for a leading mobile manufacturer ​, added the statement.​

“India is the second largest mobile market globally, having sold 100​ m​illion phones last year, thereby creating a significant opportunity to service these devices. We plan to utilize this round of funding towards geographical expansion, creating a nationwide network for servicing mobile devices and selling refurbished products. We intend to establish a presence in 10 cities across the country over the next year, and broaden the scope of our repairs capabilities to include, laptops, wearable tech ​and ​LED TVs​,” said ​​Jayant Jha, co-founder & chief executive officer, Gadgetwood.​

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.