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Gurgaon-based GameXS (pronounced Game Excess), a pre-owned game store has raised an undisclosed amount of angel round funding from Lead Angels.
Founded in 2012 by Kabeer Jain and Abhishek Jain, GameXS is a gaming focused ecommerce startup. It focusses on enabling Indian gamers to seamlessly buy and sell video games online.
The idea is to help gamers save upto 80% on their gaming costs that would help them play more. Besides providing pre-owned games and consoles, the company also plans to focus on the areas such as game rentals, e-sports, merchandising, and gaming content development in the near future.
The startup has made selling games easy through its automated process and they now also offer free doorstep pickup within 1 day in over 5000 pincodes. Currently, the company is operational in Gurgaon and claims to deliver a product within 3 hours.
A passionate gamer himself, Kabeer says “Typical Indian gamer is passionate and reads a lot about games and the gaming industry world over, but is not able to play most of them because of high prices. There are grey markets where one can buy and sell used games, but they are simply rip offs or too hasslesome and untrustworthy. By offering fair prices, simple and convenient checkout to buyers & sellers, and crazy fast pickups & deliveries, GameXS enables gamers to get to gaming quickly while getting the most bang for their buck.”
GameXS has processed more that 10000 sale transactions and close to 6000 trade-in transactions with a repeat customer rate of approximately 50%.
The raised capital will be used to scale up operations, broaden product portfolio and build a larger team to make gaming more accessible & affordable.
The market for pre-owned goods which is currently dominated by Olx and Quikr has started witnessing the rise of startups that are targeting a particularly category. A couple of other startups dealing in the pre-owned goods market have also raised funds in the past few months, these include, Bangalore-based pre-owned car marketplace Zoomo, which raised $5 Mn from SAIF Partners, Bangalore-based Zapyle, a platform that lets women sell out their pre-owned fashion products had raised $1 Mn in a funding round and Mumbai-based Envoged, a social platform for buying and selling pre-owned luxury fashion products had raised an undisclosed amount of seed funding led by entrepreneurs Ankush Nijhawan, Manish Dhingra, Gaurav Bhatnagar (AMG investments) and few other angel investors.
Apart from them, there are a number of startups that deal in the used goods’ space and are targeting particular segments, these include ReGlobe, Carwale, Bikewale, Mahindrafirstchoice, Zigwheels and Gaadi.com.
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