Qarmatek, an electronic renewal and refurbishment startup, has raised $3 million for B2C plans
- ByStartupStory | January 18, 2022
Qarmatek, a firm specialising in electronic restoration and refurbishing, has raised $3 million in a Series A fundraising round headed by GVFL (Gujarat Venture Finance Limited) and Caspian Debt.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, the company repairs about 200k equipment, including phones, computers, televisions, refrigerators, washing machines, speakers, headphones, and other items.The newly collected funds will be utilised to expand MOBEX, the company’s newly created B2C reconditioned and renewed electronics marketplace.
According to Krunal Shah, in an interview with inc42, “200k devices, those are 200k devices that are not ending up in landfills or 200k devices that do not have to be replaced by brand new devices unnecessarily, saving precious and scarce resources”
Globally, 53.6 million metric tonnes (Mt) of electronic garbage were generated in 2019, up 21% in just five years, according to the United Nations’ global e-waste monitor. According to the same report, by 2030, this amount will have risen to 74 Mt.E-waste is the fastest-growing home waste stream, driven by rampant consumption and disposal of electronics that are beginning to wear out due to planned obsolescence and repairability difficulties.
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