Servify Raises $23 Million in Series C, Led by Iron Pillar
Servify, the device lifecycle management platform that integrates multiple OEM Brands and their sales and service ecosystem to deliver great after-sales service experience today announced that they have raised $23M in Series C financing. This round was led by its existing investor Iron Pillar, an India focused venture growth investor from its recently concluded Top Up Fund.
In addition to all the existing investors such as Blume, Beenext and Tetrao SPF, this funding round also saw participation from funds managed by Global Alternatives Investor 57 Stars, multiple strategic investors like Sparkle Fund (an investment arm of DMI Finance), SF Roofdeck Capital LLC (Investment arm of Silicon Valley Investment Bank FT Partners), Go Ventures (investment arm of Go PLC, a Maltese integrated telecommunications company) and Madhu Kela Family Office. Servify’s existing Venture Debt provider Trifecta Capital also participated in the round.
Sreevathsa Prabhakar, Founder, Servify said, “It is very satisfying as we have more than quadrupled our revenue in 2020 till date, and raised funds for expansion even during the tough economic climate. This further strengthens our belief that we have built a globally scalable sound business that is not only trusted by large brands, but also the investor community.”
Servify runs Device Protection programs for Apple, Samsung, OnePlus, Xiaomi, Nokia, Motorola, Airtel etc. and also runs device exchange/buyback programs for Apple, Samsung and OnePlus across their authorised sales channels. Servify is headquartered in Mumbai, India and has subsidiaries in 8 countries. Servify aims to utilise the funding to scale up its global operations and further enhance its technology platform.
Anand Prasanna, Managing Partner at Iron Pillar, added “Servify is a unique business built from India for global markets with no pure comparable companies anywhere. Their software is also solving a hard problem of after sales service experience for marquee brands with very high standards. We are keenly interested in unique businesses addressing hard problems in very large and global markets and are excited to continue to back the company in its next phase of growth. Stellar execution by Servify’s team combined with its differentiated technology platform have led to the company’s impressive growth this year despite Covid-19 related challenges.”
Servify, the device lifecycle management platform, integrates multiple OEM Brands and their sales and service ecosystem to deliver great after-sales service experience. Started in 2015, India Headquartered Servify has spread its reach in 50+ countries across the globe. Partnering with 50+ brands including top mobile device brands, retailers, distributors, insurers, service providers, and carriers. The platform today supports 3mn+ monthly transactions. In just 5 years of its operation, it already has over 43,000+ retail locations connected and 16,000+ service partners integrated, among others.
Additional information on Servify is available at www.servify.tech
Debapriya Ghosh Biswas
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
PMI Announces Medicago to Supply Up to 76 Million Doses of Its Plant-Derived COVID-19 Vaccine Candidate23.10.2020 20:00:00 CEST | Press release
Since 2008, Philip Morris Investments B.V. (PMIBV), a subsidiary of Philip Morris International (PMI) (NYSE: PM), has been a shareholder of Medicago (in which it currently holds an approximately one-third equity stake) and has supported Medicago’s innovative plant-derived research and development focused on vaccines. The investment is consistent with PMI’s own efforts to leverage science and innovation. Japan-based Mitsubishi Tanabe Pharma Corporation (MTPC) is the majority shareholder and PMIBV’s partner in Medicago. Among other things, PMIBV and MTPC will contribute additional funding to support Medicago’s efforts to develop a COVID-19 vaccine candidate. Medicago, a biopharmaceutical company headquartered in Quebec City, announced that it reached an agreement with Public Services and Procurement Canada (PSPC) to supply up to 76 million doses of its vaccine candidate for COVID-19, subject to Health Canada approval. Innovation, Science & Economic Development (ISED), another department
Fujikura Enters 5G mmWave Infrastructure Market With the Introduction of Industry’s Highest Performance, and Low Power Consumption Phased Array Antenna Module (PAAM)23.10.2020 10:00:00 CEST | Press release
Fujikura Ltd. (TOKYO:5803) (President & CEO: Masahiko Ito) today announced the introduction of industry’s most advanced and highly integrated Phased Array Antenna Module (PAAM) for 5G mmWave operating in 3GPP bands n257 (28 GHz), n258 (26 GHz) and n261 (27 GHz). The Fujikura PAAM is the industry’s highest performance PAAM targeting indoor and outdoor applications such as 5G mmWave Fixed Wireless Access (FWA), 5G mmWave Mobile Wireless Access (MWA), 5G mmWave wireless backhaul, and other emerging applications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201023005099/en/ Fig.1 Block diagram of Fujikura PAAM. (Graphic: Business Wire) Key Differentiating Features of the Fujikura PAAM The Fujikura PAAM is a high performance phased array antenna module with a novel integrated antenna, and supports concurrent dual polarized beams in both transmission and reception (Fig.1). The PAAM integrates best-in-class mmWave-ICs developed i
VAAST Bikes Now Available in Europe23.10.2020 09:02:00 CEST | Press release
VAAST Bikes, a forward-thinking bicycle manufacturer known for its innovative Allite® Super Magnesium™ frames, has signed an agreement with German cycling-specialist retailer giant Internetstores (Fahrrad.de/Brügelmann.de/Bikester). Two of VAAST’s key bicycle models – including the gravel-ready all-road A/1 bike, and the urban U/1 – are now stocked at Internetstores’ eCommerce sites. Both VAAST models will be available to order online for delivery in fourteen locations across Europe via Fahrrad.de/Brügelmann.de in Germany and the partner site Bikester in 13 countries, including the UK, France, the Netherlands, Belgium, Switzerland, Austria, Poland, Denmark, Italy, Sweden, Norway, Finland and Spain. Customers in Germany can benefit from personal service in Fahrrad.de’s five stores and 190 local service partners, while eCommerce customers Europe-wide will be able to receive their new VAAST bicycle within just days of ordering online. VAAST’s unique position as the only bicycle manufactur
Mitsubishi Chemical Holdings Corporation: Notice Regarding Change in Representative Corporate Executive Officers23.10.2020 08:40:00 CEST | Press release
Mitsubishi Chemical Holdings Corporation (“MCHC”) (TOKYO: 4188) announced that, at the meeting of its Board of Directors held today, it resolved change of representative corporate executive officers as outlined below. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201022006285/en/ Jean-Marc Gilson (Photo: Business Wire) 1. Change in Representative Corporate Executive Officers (Appointed) Name: Jean-Marc Gilson Title: Representative Corporate Executive Officer President and Chief Executive Officer (Retiring) Name: Hitoshi Ochi Title: Representative Corporate Executive Officer President and Chief Executive Officer 2. Biographical Sketch of New Representative Corporate Executive Officer Refer to the appendix 3. Scheduled Date of Appointment April 1, 2021 4. Reason for the Change MCHC converted to a company with a nominating committee, etc. in June 2015. Since then, the Nominating Committee has carried out preparations to proper
MYAH Wins Prestigious Silmo D’Or Award23.10.2020 07:00:00 CEST | Press release
Topcon Healthcare, a leading provider of medical devices and software solutions for the global eye care community, announced today that its MYAH myopia and dry eye management device has won the 2020 Silmo D’Or Award in the Material/Equipment category. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201022005242/en/ Topcon Healthcare announced today that its MYAH myopia and dry eye management device has won the 2020 Silmo D’Or Award. (Photo: Business Wire) The Silmo D’Or Awards are presented each year to recognize creativity in optical product design, innovation and technology. This year marked the 27th annual awards ceremony, which was held virtually and live streamed online on Saturday, October 3rd. The award committee was proud to recognize forward-thinking companies who have continued to launch products and propel the industry forward despite the global pandemic. MYAH came out on top in the Material/Equipment category and
ABB: Q3 2020 Results23.10.2020 06:46:00 CEST | Press release
“Third quarter revenues in all business areas were still dampened due to the impact of COVID-19, although a strong recovery in China and ongoing cost mitigation efforts supported a strong underlying performance. On the upside, the integration of GEIS and turnaround of Installation Products in Electrification is starting to bear fruit and Motion is performing robustly. Robotics and Industrial Automation, on the other hand, are taking more time to recover,” said Björn Rosengren, CEO of ABB. “We are pushing ahead with the decentralization of the group and the ongoing review of our portfolio, while carrying out our share buyback program as planned. We look forward to presenting further details on our strategic progress at our Capital Markets Day on November 19.” KEY FIGURES CHANGE CHANGE ($ millions, unless otherwise indicated) Q3 2020 Q3 2019 US$ Comparable 9M 2020 9M 2019 US$ Comparable Orders 6,109 6,688 -9% -8% 19,509 21,702 -10% -7% Revenues 6,582 6,892 -4% -4% 18,952 20,910 -9% -7% I
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom