The startup will use the funds to expand its services in India and other countries, as well as to strengthen the team
India- and Singapore-based reverse logistics services startup Blubirch has secured US$2 million in angel funding from a group of investors, including Chicago Capital Ventures and PE investor Sanjay Mehta, as per an official statement.
The company will use the funds to expand its services in India and other countries, as well as to strengthen the team.
“While technology is at the forefront of what we do at Blubirch, our main focus is to assist our clients to manage their complete range of technology assets. The fund raised will be used to further enhance the technology platform and expand operations across six more cities,” said Co-founder and CEO Sapan Jain.
The startup was established in April 2014 by Jain, along with Jeby Cherian, Amit Goel and Jayathirtha Katti.
It provides solutions for IT asset management and re-marketing, and also deals with refurbished customer returns and excess. It delivers technology reverse logistic services in multiple countries by employing a multi-channel approach – online, offline and resell. The startup deals with assets ranging from enterprise machines to mobiles.
Blubirch cams to have a network of over 3,000 partners across the globe for redeployment.
It now plans to launch its consumer services and expects to reach INR 60 crore (under US$10 million) revenue by early next year.
Headquartered in Bangalore, the startup also has offices in Mumbai and Singapore.
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