05 October 2017, India:
Multi-brand mobile refurbishing startup Yaantra has raised a $3.1 million in its fourth round of funding from its existing investors Carpediem Capital Partners & Duane Park as per the report by ET.
Launched in April 2013 by Jayant Jha, Ankit Saraf and Anmol Gupta, Yaantra started with an idea of offering smartphone users in India a dependable technical support and quality repair services in consumer electronics (Smartphones & Tablets), backed by a knowledgeable & certified team of resources; serving customers online and delivering directly at their doorsteps.
Delhi-based Yaantra sells refurbished multi-brand smartphones with warranty and provides on-demand multi-brand smartphone repair services across Delhi, Bengaluru, Mumbai, Chennai, Pune, Hyderabad and Ahmedabad.
“We have been growing profitably and at over 25% month-on-month in sales,” said Jayant Jha, CEO at Yaantra, adding this round of capital infusion will further boost Yaantra’s relationship with key partners and help maximize the impact of its offerings.
“The majority of the capital will be deployed to enhance our e-commerce platform and improve its technical capabilities as we intend to bring in more Yaantra-certified retailers onto it. Further, a part of the funds will also be used to expand our geographical presence,” he added.
In September 2016, the company had raised about $6 million in Series A funding from Carpediem Capital and Duane Park. Prior to that, it had raised about $200,000 from the Indian Angel Network, which exited the firm two years later.