<article>New Delhi-based phone and tablet repair service company <a style="color: #000080;" href="http://www.gadgetwood.com/" target="_blank">Gadgetwood eServices Pvt Ltd</a> has raised $6 million from India-focussed private-equity firm <a style="color: #000080;" href="http://dealstreetasia.com/tag/Carpediem-Capital" target="_blank">Carpediem Capital</a>.
Subsequently, Carpediem Capital founder and MD Abhishek Sharman will join Gadgetwood’s board, said a report in Business Line.</article>

New Delhi-based phone and tablet repair service company <a style="color: #000080;" href="http://www.gadgetwood.com/" target="_blank">Gadgetwood eServices Pvt Ltd</a> has raised $6 million from India-focussed private-equity firm <a style="color: #000080;" href="http://dealstreetasia.com/tag/Carpediem-Capital" target="_blank">Carpediem Capital</a>.
Subsequently, Carpediem Capital founder and MD Abhishek Sharman will join Gadgetwood’s board, said a report in Business Line.
“We will utilise the funding to expand our presence to other geographies, starting with the metros of Bengaluru, Mumbai and Chennai, and moving to set up a presence across 10 cities over the next year. We are also looking to more than double our employee base to 350 from the present 120,” said Gadgetwood co-founder and CEO Jayant Jha.
Founded in 2013 by entrepreneurs by Jha, Ankit Saraf and Anmol Gupta, the firm received investment of an undisclosed amount from Indian Angel Network (IAN) led by the angel network&#8217;s investors Ajai Chowdhury, Nitin Singhal, Ashvin Chadha and Yogesh Bansal, who received an undisclosed minority stake.
Gadgetwood offers repair and support services for mobiles and tablets across all brands. It also operates in the refurbished device sales markets. The company claims to repair in excess of 10,000 devices every month and is an authorised service provider for a leading mobile manufacturer
“Further, we are also looking to broaden the scope of our repair capabilities to include, laptops, wearable tech and LED TVs,” he said.
Carpediem Capital Partners fund is an India focused private equity with an investment focus on small and medium size businesses. Focus sectors include consumer products and services, healthcare, consumer finance services, logistics, managed services and education.
“This investment has been made from the first fund of Rs 200 crore, of which we have already deployed about 20 per cent and have committed to invest about 30 per cent. The investment in Gadgetwood is in line with Carpediem’s philosophy of investing in emerging leaders in the organised services category,” Carpediem’s Sharman said.
Recently, Smartphone repair e-commerce platform <a style="color: #000080;" href="http://dealstreetasia.com/tag/justlikenew" target="_blank">JustLikeNew.in </a>has raised $500,000 through <a style="color: #000080;" href="http://dealstreetasia.com/tag/letsventure" target="_blank">LetsVenture.com</a> from angel investors including Krishnakumar Natarajan- Executive Chairman of Mindtree and Sandeep Mathur- Former Managing Director of Oracle India. Earlier, Pune-based online gadget servicing startup <a style="color: #000080;" href="http://dealstreetasia.com/tag/repaireasy" target="_blank">Repaireasy</a> also raised a round of around $250,000 as seed funding from a consortium of investors.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/india-dealbook-78-53544/" target="_blank">India Dealbook: Startups JustLikeNew, Codemojo, NewsDistill raise funds</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/exclusive-online-gadgets-repairing-startup-repaireasy-gets-seed-funding-in-initial-talks-to-raise-10-15m-more-49025/" target="_blank">Exclusive: Indian gadget servicing startup Repaireasy raises seed funding</a>

India: Phone repair firm Gadgetwood raises $6m from Carpediem Capital

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India: Phone repair firm Gadgetwood raises $6m from Carpediem Capital

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