Mumbai-based Servify has raised an undisclosed Pre-Series A amount as investment from Blume Ventures and BEENEXT.
The round also saw participation from existing investors including Germany-based Barkawi Holdings GmbH, TM Service Technology Holdings Gmbh and Sreevathsa Prabhakar, Founder of Servify.
The fund raise will help in further enhancing the product, service and technology offerings. A major part of this investment will be deployed in aggressively building the product, engineering and business teams.
Earlier, it had raised an undisclosed amount of funding from Blume Ventures, Germany’s Barkawi Holdings GmbH and TM Service Technology Holdings GmbH, in April 2016.
Teruhide Sato, Founder & Managing Partner of BEENEXT said, “What I value most about Servify is its great and experienced founder, their strong alliance network in the OEM & retail space, the problem they are solving with their platform approach, and the kind of customer insights they are expected to generate in the process. We are very happy to partner with them in this journey.”
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Karthik Reddy, Managing Partner at Blume Ventures further added, “Blume was an early believer in Sreevathsa and team and is happy to be a co-lead in this round as well. With the additions of Pravin and other key team members, Servify continues to build a foundation for what will become a scalable business in device lifecycle management like we’ve never seen before. No one has attempted a full stack approach of purchase-to-disposal of electronics before, at this scale.”
Servify is a personal device management platform for gadgets, consumer electronics and home appliances. Founded in 2015 by Sreevathsa Prabhakar, the app allows consumers to add their household electronic products and appliances, store the bills, and to access authentic brand authorised service during in-warranty as well as out of warranty scenarios.
The platform integrates with OEM brands, retailers, carriers and service providers to facilitate seamless after-sales service experience for customers.
As said by Sreevathsa “Our vision is to build a platform where consumers can get seamless post-purchase experience for all their devices – be it mobile phones or electronics or any home appliances they own. To enable this, the Servify technology platform connects consumers with brands, resellers and the service ecosystem through deeper integrations.”
The team claims to have doubled its user base and manages over half a million devices on its platform.
Servify further aims to build a state-of-the-art centralised service and repair facility in Mumbai and has already received authorisation from multiple brands for this. The facility is expected to go live in the first week of December 2016.
According to a recent survey by Blume Ventures, the customer service market for electronic gadgets and appliances is slated to be upwards of $3.5 Bn a year.