Monday, October 17, 2016

GadgetWood Rebrands As Yaantra, Anurag Bhargava Joins as New Chairman

On-demand repair services & refurbishment startup, Gadgetwood rebrands itself as ‘Yaantra. The company had raised approximately US$6 mn in funding from Carpediem Capital, an India focused private equity fund, and its investors earlier last month. As part of the transaction, and to strengthen governance, Anurag Bhargava of Duane Park has joined the board as Chairman. Abhishek Sharman, Managing Director of Carpediem has joined the board to help with growth, capital structure and operations. A strategic advisory board will be added to aid in growth and to assist with partnerships going forward.

This will position Yaantra, the re-branded company, for growth and profitability for the years ahead and differentiate Yaantra from its competitors.

Jayant Jha, CEO, Yaantra said “We are very excited to partner with Carpediem and Duane Park. The strategic inputs from Anurag and Abhishek will help us build the leading consumer services brand focused on repairs and refurbishment of smartphones and tablets. Yaantra will provide support across the product life cycle of smartphones and tablets and will provide the next gen innovative services to end users, corporates, retailers, OEMs and ecommerce companies.”

To end users, Yaantra will offer door step repair service, after repairs warranty and extended warranty on multi brand smartphones and tablets across 30,000 pin codes in the country; users in Delhi NCR and Bangalore can currently enjoy express service delivered at the door step within 2 hours. Yaantra will also offer high quality accessories, useful android apps and offer financing on the complete set of service offerings. Yaantra plans to build its own service centers and presence across 25 major cities across India.

The company will also sell high quality unboxed, refurbished smartphones, including exclusive models certified by Yaantra at attractive prices on its portal as a differentiator from the current refurbished smartphone sellers. All the products will be pre bundled with door step warranty and the customers will also have options to buy extended warranty, accessories and get easy finaning on all the products bought from the portal.

Yaantra also works with OEMs, ecommerce and market place leaders, corporates, retailers, franchisees and distributors. At present the company works with more than 50 partners and plans to expand it substantially in the months to come.

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