Servify, a post-sales service firm, has secured Rs 84 crore ($10 million) in a fresh tranche of a Series D round from Bajaj Holdings, Trifecta, and Innoven Capital. The funding was a combination of equity and debt.
According to its regulatory filings with the Registrar of Companies (RoC), the board of Servify has approved a special resolution to issue 500 non-convertible debentures and 1,16,555 compulsorily convertible preference shares (CCPS) for a total consideration of Rs 84 crore or $10 million.
Bajaj Holdings contributed Rs 34 crore through equity, while Trifecta and Innoven Capital contributed the remaining amount equally through debt financing. TheKredible estimates that the company has been valued at approximately Rs 7,074 crore or $852 million post-allotment.
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Servify provides brand-authorized after-sales support for personal gadgets, electronics, household appliances, and mobile phones. Consumers can access authentic brand-authorized service during or beyond the warranty period, store bills, and add their domestic electronic gadgets to the platform.
The Mumbai-based company has raised approximately $125 million to date, with $65 million of that amount coming from the ongoing Series D round, which is being led by the Singularity Growth Opportunity Fund in 2022.
About Servify
Founded in 2015 by Sreevathsa Prabhakar, Servify is a Mumbai-based tech startup that offers a mobile app that acts as a personal assistant for consumer electronic devices and appliances.Â
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