Servify, a Mumbai-based item lifecycle the executives startup, reported that it has gotten $65 million as a component of its continuous Series D subsidizing round drove by Singularity Growth Opportunity Fund.
What’s more, different financial backers including AmTrust and the family office of Pidilite, alongside existing financial backers including Iron Pillar, BEENEXT, Blume Ventures, and DMI Sparkle Fund additionally took part in the round.
According to the authority discharge, the assets will be utilized to additionally develop the business in worldwide business sectors and reinforce the innovation stage that supports brands and buyers during item utilization, support (harm security, service agreement), and item end-of-life altering situations (exchange, overhaul).
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As of late, the organization stretched out its foundation to empower reasonable item buys (like no-cost EMI, moment limits, and so forth) and will likewise scale this contribution with the raised capital.
Sreevathsa Prabhakar, Founder of Servify, said,
“We are building a monstrous, worldwide business from India that is as of now at a yearly income run pace of more than $130 million and is nearly turning productive.”
Established in 2015 by Sreevathsa Prabhakar, Servify coordinates various OEM (unique gear producer) brands, and their deals and administration environment through its item lifecycle the board stage.
The startup guarantees that it has cooperated with north of 75 brands, including Apple, Samsung, OnePlus, Xiaomi, HP, Vivo, Realme, Nokia, Etisalat, Croma, Walmart, Reliance Retail, Amazon, and Flipkart, among others, and has a worldwide group strength of more than 700. Servify professes to have a circulation presence in excess of 50,000 outlets.
“Item assurance is as of now not an idea in retrospect; truth be told, it is quickly becoming the dominant focal point for both OEMs and purchasers. We, consequently, see Servify consistently moving towards worldwide administration in this enormous addressable market of more than $100 billion and are certain that they will convey an extraordinary result for us all,” said Apurva Patel, Managing Partner at Singularity Growth.
Anand Prasanna, Managing Partner at Iron Pillar, added, “We are glad to help Servify in its terrific development since their Series B round and are exceptionally satisfied with their wonderful worldwide execution on an extremely extreme yet an exceptionally huge business opportunity.”
According to the brand, it has progressively acquired reception in North America, European Union, the UK, Turkey, Saudi Arabia, and the United Arab Emirates, as well as other Gulf Cooperation Council nations. It has a presence in around 40 nations.
