Ecommerce platform for smartphone repairs JustLikeNew has raised $500K (INR 3.3 Cr) via LetsVenture in its second round of funding. Other investors who participated in the round include Krishnakumar Natrajan, Sandeep Mathur, Vikas Tandon, and Aneesh Reddy.
The funding will be used to enhance JustLikeNew’s reach in its target cities and to improve technology.
Founded in 2014 by Ajit Panigrahi and Rahul Agarwal, the startup provides standardised repair services across various locations for smartphones and tablets. It also claims to offer a service turnaround time of 48 hours. It also provides services in the B2B segment, and has tied up with companies like Uber, Ola, Swiggy, and Qualcomm.
According to an official statement, the startup claims to offer a catalogue of 10,000 smartphone repair services on its platform.
Commenting on the funding, Ajit Panigrahi, co-founder, JustLikeNew said, “With the number of smartphone owners estimated to cross 702 Mn by 2020, there is an immense scope for our service network in the country’s after-sales repair space. We are confident that the adoption of online-based repair services will continue to grow at an accelerated pace in the future as well.”
The company offers value added services like free pickup and drop, standby replacement phone and after-service warranty, according to an official statement. The company has also witnessed a 5x revenue growth between July 2015 and March 2016, with an average M-o-M of 25%.
Krishnakumar Natarajan, Executive Chairman, Mindtree, said, “JustLikeNew has tremendous potential due to its differentiated approach and customer-centric offerings. By bringing in service standardisation and enhancing transparency in pricing, the platform has transformed the smartphone repair experience for the Indian customer. I am convinced that the model JustLikeNew has adopted has great promise and is absolutely suitable for the country’s market.”
The company is currently operational in Bengaluru, Hyderabad, and Delhi-NCR. It also offers services across India through its strategic partnership with 3PL.