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Pioneering Refurbished Electronics Startup, Qarmatek, Raises USD 3 Mn

Qarmatek began as a business-to-business (B2B) electronics repair and refurbishment partner for major device manufacturers.

Qarmatek Founders

Qarmatek, an electronics renewal and refurbishment firm backed by GVFL (Gujarat Venture Finance Limited) and Caspian Debt, has acquired $3 million in Series A funding. The funds will be used to expand its newly launched B2C refurbished and rejuvenated electronics marketplace, MOBEX.

Qarmatek began as a B2B electronics repair and refurbishment partner for major device manufacturers, founded in 2011 by Krunal Shah and Arun Hattangadi. For OEMs, they began by repairing set-top boxes and their remote controls. In a month, it repairs about 200k devices, including phones, computers, televisions, refrigerators, washing machines, speakers, headphones, and other items.

We are happy with the assistance we have received from GVFL & Caspian Debt as we unfurl the next phase of our journey,” stated Krunal Shah, Co-Founder and Director, Qarmatek. We anticipate accelerating our capacity to service more clients effectively and quickly as a result of this round of cash infusion. Appreciating this remarkable achievement, we intend to work hard to improve the working environment for all of our 800+ employees and to focus on their personal and professional development. We can currently complete 200,000 repairs every month as a company, but we plan to increase that to half a million by the end of the current calendar year.

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