Bangalore-based Blubirch, an IT/Reverse logistic service provider, has raised $2 Mn in an angel round of funding from Chicago Capital Ventures, Sanjay Mehta, angel & PE investor and others.
The raised funds will be used to expand its team and services in India and other countries.
Founded in April 2014 by Sapan Jain, Jeby Cherian, Amit Goel, and Jayathirtha P. Katti, Blubirch is an end-to-end solution provider for electronics and IT reverse logistics. It provides solution for IT asset management, remarketing and also deals with refurbished customer returns and excess.
Besides Bangalore, the company also has headquarters in Mumbai and Singapore. Since its inception, the company has seen a rapid growth from its business and user base standpoint. It has a network of over 3000+ partner across the globe for redeployment and is already operating at a run rate of INR 100+ Cr.
Speaking on the development, Sapan Jain, CEO & co-founder at Blubirch said, “Our main focus is to assist our clients manage their complete range of technology assets. The fund raised will be used to further enhance the technology platform and to expand the operation across 6 more cities.”
Blubirch plans to launch their consumer services and expects to reach INR 60 Cr. revenue by early next year.
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