Gadget and mobile phone repair platform Repaireasy has raised a pre-series A investment of $275,000 from a consortium of international and domestic investors including Morris Street Advisors (MSA) and P. Krishnamurthy, former vice chairman of JM Morgan Stanley.
The startup plans to utilise the funds to power up its technology infrastructure, strengthen customer support, develop new value-added services, and fuel expansion, Repaireasy said in a press statement.
As the next stage of development, the company plans to launch 10 to 12 hubs across the country. Owned and operated by Bhrmaa Software Solutions Pvt. Ltd, Repaireasy was founded in 2013 by Rishi Wahi and Naveen Goyal. It's an online platform that offers repair services for smart phones, laptops and tablets to individuals as well as corporate entities. It offers services such as free pickup and delivery of gadgets, warranty on parts and workmanship, and cash on delivery. For corporate services, the company offers technical implants, IT assets audit, network security, consultation on IT upgrade and securing of IT assets.
Wahi worked with Airtel in the past while Goyal was associated with Philips Light Lounge and Persistent Systems Ltd before launching Reapireasy. "Receiving financial support from our new investors is the first major step towards achieving our goals. We are carefully and systemically expanding our reach and scope of services across India," Wahi said.
The brand services across 10,000 pin codes and claims to have a monthly growth of approximately 20%. It currently has 30 convenient pick up points across Maharashtra and plans to expand to Delhi-NCR this month.
"The repair space, in general, lacks an organized working model and with Repaireasy, we plan to bring in a new paradigm shift in India and provide a platform that can be the preferred electronic repair destination for consumers," said Rohit Tiwari, CEO of Morris Street Advisors.
One of Repaireasy's rival Servify, which offers brand-authorised after sales support services for electronic gadgets, too, raised an undisclosed amount of money in pre-Series A funding from Blume Ventures and two German firms in April this year.
Mumbai-based HandyHome, which was acquired by app-based consumer service marketplace UrbanClap, also allows users to book brand-authorised repairs and other services for electronic appliances online. In the wider home services space, startups such as Zimmber, HouseJoy and others also offer repair services for electronic appliances through their marketplace platforms, though not necessarily through tie-ups with brands.
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