Servify Raises Funds Through New Investors For An Undisclosed Amount

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Mumbai-based personal device management platform Servifyraised an undisclosed amount of funds in a Pre-Series A round through the help of the existing investors Blume Ventures, Beenext, and others. Focusing mainly towards gadgets, consumer electronic goods, home appliances and so on, Servify helps its users to seek a post-purchase services for their respective devices or electronic goods.


In the recent fundraising event held in Mumbai, on November 24, 2016, it witnessed many existing and new investors such as Germany-based Barkawi Holdings GmbH, Sreevathsa Prabhakar Founder of Servify, and TM Service Technology Holdings Gmbh. Thuogh the Pre-Series A round of funding was led by Blume Ventures and Beenext.

Founded in late 2015, Servify is headquartered in Mumbai that build a device ownership platform for million of users who tend to seek help during the post-purchase stage. The gadgets or devices vary from mobile handsets, personal gadgets, electronic goods to home appliances (large and small both). It has joined hands with OEM (Original Equipment Manufacturer) brands, retailers, service providers and carriers who provides hurdle-free after sales experiences to the customers.

During the BSE filing Sreevathsa Prabhakar, Founder and CEO of Servify stated that, “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 fund raise will help in further enhancing our product, service and technology offerings.”

In addition to the statement Pravin Jadhav, Chief Product and Growth Officer at Servify opinionated that,“We have doubled our user base recently and now manage over half a million devices on our platform. A major part of this investment will be deployed in aggressively building our product, engineering and business teams. We are also building a state-of-the-art centralized service and repair facility in Mumbai and have already received authorization from multiple brands for this. The facility is expected to go live in the first week of December.”

Blume Ventures, who have earlier raised funds for almost 64 startup firms including 5 acquisitions, invested in Servify simply due to high reliability. The VC was well acquainted with Prabhakar as well as his startup eventually believing that Servify would scale up high in the near future as it has focused towards device lifecycle management. Further, it continues to build a foundation that no other startup, in similar sector, has thought of before. The “full stack approach of purchase-to-disposal of electronics” will definitely push Servify to new heights.

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