Electronics renewal and refurbishment startup Qarmatek raised $3 million in Series A led by GVFL (Gujarat Venture Finance Limited) and Caspian Debt, will use funds to for the growth of its newly-made B2C refurbished and renewed electronics marketplace called MOBEX.
Founded in 2011 by Krunal Shah and Arun Hattangadi, Qarmatek began as a B2B electronics repair and refurbishment partner for major device manufacturers. They started by repairing set-top boxes and their remote controls for OEMs. It repairs more than 200k devices in a month including mobile phones, laptops, televisions, fridges, washing machines, speakers, headphones and other products.
“Once your product goes out of warranty, it is expensive to get it repaired at an authorised repair store. MOBEX can help you there as well, with service that will have a quality equivalent to the OEMs,” said Shah, speaking about the multiple channels through which MOBEX will offer its repair services.