14 January 2017, India:
Bengaluru-based gadgets repair firm iService has raised Rs. 3 Crore in a Seed round of funding led by Blume Ventures. Angel investors, including Freshdesk co-founder Girish Mathrubootham, TaxiForSure co-founder Aprameya Radhakrishna, Chief Executive of Tapzo Ankur Singla, former Flipkart executive Mekin Maheshwari and Belong co-founder Vijay Sharma, also participated in the round as per ET report.
Girish Mathrubootham said, “Ankit and iService have been building a solid business in this large, unsexy and highly fragmented repairs and warranty industry. They are front runners in building the most credible brand and becoming category leaders who will go on to enable the entire industry.”
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“If the phone is in warranty then the customer goes to the phone manufacturer’s service center. In case it is not in warranty, going to a manufacturer’s service center can be expensive, so the customer may go to a local shop to get his phone repaired, who is not easy to trust and also where the cost is ambiguous and not standardized. We (iService) are in the middle of the two—where we bring the trust of a brand and provide affordable services,” said Chowdhary in an interview to Mint.
Founded in 2013 by Ankit Chowdhary, the startup will utilize the funding to expand to new regions, hire staff and invest in product and technology. (Image- Gadget Grape)