Online smartphone repair firm JustLikeNew.in raises $500,000 in angel funding
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Hyderabad: Hyderabad-based smartphone repair e-commerce platform JustLikeNew.in on Tuesday said it had raised $500,000 in angel funding for expanding its services.
The start-up said it secured investments from leading angel investors including Krishnakumar Natarajan, executive chairman of Mindtree Ltd, and Sandeep Mathur, former managing director of Oracle India.
Vikas Tandon, former managing director of Indigo Consulting, and Aneesh Reddy, chief executive officer of Capillary Technologies, who had earlier invested in the seed round of funding for JustLikeNew.in, also participated in this round.
JustLikeNew.in said it will use the funds to penetrate deeper into its existing target cities and to improve its IT infrastructure.
The company, founded by Ajit Panigrahi and Rahul Agarwal, former classmates at the Xavier School of Management (XLRI), Jamshedpur, in mid-2014, operates in Bengalure, Hyderabad and Delhi-NCR region.
JustLikeNew.in is also in the business-to-business segment through partnerships with Uber, Ola, Swiggy and Qualcomm for smartphone servicing, and offers pan-India services through its strategic partnership with 3PL.
The platform has a catalogue of 10,000 repair services across several major brands listed on the website along with price, timelines and terms in order to ensure transparency.
“With the number of smartphone owners estimated to cross 702 million by 2020, there is immense scope for our service network in the country’s after-sales repair space,” said co-founder Panigrahi. “We are confident that the adoption of online-based repair services will continue to grow at an accelerated pace in the future as well.”