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Servify

Servify rakes in $23 Mn Series C round led by Iron Pillar

Servify

Personal device management and after-sale services for electronic gadgets company Servify has secured $23 million in the Series C funding round led by existing backer Iron Pillar. Sparkle Fund, 57 Stars, SF Roofdesk Capital, Go Ventures, MadhuKela Family office are new investors which participated in the fresh financing.

Existing investors Tetrao SPF, Trifecta Capital, Blume Ventures and Beenext also invested in the series C round. The Mumbai-based company had raked in $15 million worth Series B round led by Iron Pillar in August 2018. 

Servify had also raised two undisclosed rounds in April and November 2016. 

With the fresh infusion, Servify is looking to scale up its global operations and further enhance its technology platform, said the company in a statement. 

Started in 2015 by Sreevathsa Prabhakar, Servify offers brand-authorized after-sales support for mobile phones, personal gadgets, electronics and home appliances. Through its personal assistant app, it allows consumers to add their household electronic gadgets onto the platform, store the bills, and access authentic brand authorized service during or beyond the warranty period. 

The platform currently works with over 50 top device brands, retailers, distributors, insurers, service providers and carriers such as Amazon, Redington, Reliance Jio, Reliance Retail, and Xiaomi, among others. Apart from India, it has an international presence across the US, Canada, China, Middleeast and Europe. 

Last year, Servify had acquired its Bengaluru-based counterpart iService in a cash and stock deal. On Tuesday, another after-sales services firm Onsitego raised Rs 70 crore as a part of its extended Series B funding round from IFC. It competes with Onsitego, Syska Secure.

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