A $6 mn investment seized by Gadgetwood from Carpediem Capital. Read to know more

An amount of $6-million has been raised by an on-demand repair services and refurbishment startup Gadgetwood. The amount raised is a funding from a private equity fund Carpediem Capital.

Gadgetwood, the emerging repair and refurbishment startup, provides repair and other support services for mobiles and tablets across all brands. It also provides after-repair warranty. It also operates in the refurbished devices sales market space.

The MD of Carpediem Capital, Abishek Sharman, will be on-board with Gadgetwood.

"It's an emerging business in the organized service category, the repairs and refurbishment mark is highly fragmented and unorganized and thus it gives a huge opportunity to create a scalable business to fill a large gap in the industry" Sharman told ET.

Gadgetwood claims to repair about 10,000 devices per month and provides its services to many leading mobile manufacturers.

"India is the second largest mobile market globally, having sold 100-million phones last year, thereby creating a significant opportunity for repair and refurbish services," Jayant Jha, CEO at Gadgetwood told ET.

Jha tells that the company aims to be the leading player in the organized consumer electronic repair and refurbishment industry.