About Qarmatek
Qarmatek is a Retail company based in Ahmedabad (India) founded in 2011 by Arun Hattangadi and Krunal Shah. Electronics repair, refurbishment, and extended warranty services are provided. It operates in the Retail and Business Services sectors. Qarmatek has raised $5.11 million across 4 funding rounds from investors including Gujarat Venture Finance, Caspian Debt and Raajratna Ventures. The company has 415 employees. Qarmatek was last valued at $12.05 million in December 2021. Its Indian entity Qarmatek Services Private Limited reported revenue of ₹51.49 Cr. Qarmatek offers products and services including Electronic Repair Service, Refurbishment Service, and Doorstep Logistics. Its focus areas include Consumer, Professional Consumer Services, Electronics Repair and Consumer Electronics E-Commerce. Its competitors include Servify, TVS Electronics and LRP Captivators; 1 of its 3 listed competitors has raised funding.
Company details
Qarmatek was founded in 2011 in Ahmedabad, India. Repair and refurbishment services for electronics, including mobile phones and large appliances, are offered alongside extended warranty plans. Certified refurbished mobile phones are supplied through a dedicated brand. Quick repair solutions for various devices are provided by another brand. EV charging infrastructure solutions are also delivered. Device lifespans are extended and e-waste is reduced via these operations.
- Headquarters Ahmedabad, India
- Employees 415
- Founders Arun Hattangadi, Krunal Shah
- Stage Minicorn
- SectorsRetailBusiness Services
- Email••••••••
- Phone•••• ••••
- Website qarmatek.com
- Social LinkedIn X Facebook
- Legal Name Qarmatek Services Private Limited
- Date of Incorporation 14 Apr, 2011
- Jurisdiction Ahmedabad, Gujarat, India
- Annual Revenue₹51.49 Cr
FY 2024 · -23% YoY
- Net Loss-₹12.53 Cr
FY 2024 · -24% margin
- EBITDA-₹10.96 Cr
FY 2024 · -21% margin
- Total Equity Funding$5.11M (USD)
in 4 rounds
- Latest Funding Round$1M (USD), Angel Round
Jul 2024
- InvestorsGujarat Venture Finance
& 18 more
- Employee Count415
Associated legal entities of Qarmatek
Qarmatek operates through Qarmatek Services Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Qarmatek Services Private Limited CIN U52602GJ2011PTC064951 | Active | 14 Apr 2011 | Ahmedabad, Gujarat | ₹51.5 Cr | 415 | 3 | View details |
Products & Services of Qarmatek
Qarmatek offers a comprehensive portfolio of products and services, including Electronic Repair Service, Refurbishment Service, and Doorstep Logistics.
Repairs various electronic devices like phones and appliances
Refurbishes gadgets to reduce e-waste and extend usability
Handles pick-up and drop-off for electronic repairs
Funding Insights of Qarmatek
Qarmatek has successfully raised a total of $5.11M across 4 strategic funding rounds. The most recent funding activity was a Angel Round of $1 million completed in July 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $5.11M
- Total Rounds 4
- Last Round Angel Round — $1M
- First Round $281,390
(May 2016)
- Investors Count 19
All 4 funding rounds of Qarmatek with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul 2024 | $1M | Angel Round | – | Umang Nahata, Rakesh Raman | – |
| Dec 2021 | $3M | Series A | $12.05M | Gujarat Venture Finance, Caspian Debt | – |
| Sep 2018 | $827,442 | Angel Round | $8.48M | Heli Dhinal Patel, Devendra Podpatlal Patel | |
| May 2016 | $281,390 | Angel Round | $••••• | Kunal Pankaj Naik, Viral Pankaj Naik | – |
| Date | Valuation | Stage |
|---|---|---|
| Dec 2021 | $12.05M | •••••••• |
| Sep 2018 | $8.48M | •••••••• |
| May 2016 | $••••• | •••••••• |
Full valuation and stage history of Qarmatek
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
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Verified entity values are shown only after access is granted.
Last known valuation $12.05M (Dec 2021). 19 investors in total: 3 institutional and 16 angel.
Investors in Qarmatek
Qarmatek has secured backing from 19 investors, including angel, venture fund, and institutional investors. Prominent investors backing the company include Gujarat Venture Finance, Caspian Debt and Raajratna Ventures.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital investments are made in Indian startups across multiple sectors. | 1990 | gvfl.com | Ahmedabad, India | |
Provision of customized debt financing to impact-driven companies in key sectors. | 2004 | caspiandebt.in | Hyderabad, India | |
Manufacturing of engineering products, solar solutions, and crepe paper by Raajratna Ventures. | 2005 | raajventures.com | Ahmedabad, India | |
UN Umang Nahata | Co-founder of Zouk, active angel investor in Indian startups | unknown_944163d3d5e1457d8 | ||
RR Rakesh Raman | Angel investor and entrepreneur, focused on tech startups in India. | unknown_750d6c98440a47518 | ||
VM Vishal Makwana | Angel investor and entrepreneur, focused on tech startups in India. | unknown_3c91fd173420493fa | ||
NR Nipam Rameshhandra Shah | unknown_31862ea2a13d45319 | |||
HM Hemal Madhubhai Patel | unknown_ea50151052db4be6b | |||
KJ Krutin Jatin Patel | unknown_ecb826a4ca994d7b9 | |||
HD Heli Dhinal Patel | unknown_e7ec35976baa47cda |
Investor details for Qarmatek
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Board of directors of Qarmatek Services Private Limited (Qarmatek)
Qarmatek Services Private Limited is the primary company behind Qarmatek. The board of Qarmatek Services Private Limited currently have 3 directors; the longest-serving is Krunal Saumirbhai Shah, appointed in 2011. 8 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Krunal Saumirbhai Shah DIN 03465689 | Whole-time director | 14 Apr 2011 | 15 yrs 6 mo | Qarmatek Services Private Limited |
| Dhaval Rajeshbhai Vakta DIN 06714695 | Director | 25 Nov 2013 | 12 yrs 11 mo | Qarmatek Services Private Limited |
| Mihirkumar Arvind Joshi DIN 00823615 | Nominee Director | 28 Dec 2021 | 4 yrs 10 mo | Qarmatek Services Private Limited |
People of Qarmatek
5 people are tracked at Qarmatek (5 in leadership); the tracked headcount is 415.
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
| Co-Founder | Leadership | |
Kunal Naik | Director | Leadership |
| Director | Leadership | |
Mitul Shah | COO | Leadership |
Complete people profiles for Qarmatek
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Verified entity values are shown only after access is granted.
Financials of Qarmatek
Figures of Qarmatek Services Private Limited, the primary company behind Qarmatek, for FY 2024. Revenue was ₹51.49 Cr (-23% year on year). Net loss was -₹12.53 Cr (-24% margin). EBITDA was -₹10.96 Cr (-21% margin). Revenue has grown at a compounded annual rate of +6% over three years and +13% over five years.
- ₹51.49 CrRevenue · FY 2024 · -23% YoY
- -₹12.53 CrNet loss · -24% margin
- -₹10.96 CrEBITDA · -21% margin
- ₹1.94 CrPaid-up capital
- 415Employees (provident fund records)
- +6%Revenue CAGR, 3 years
- +13%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Qarmatek Services Private Limited are on its company page.
Detailed financial statements for Qarmatek
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of Qarmatek
4 dated milestones of Qarmatek across 13 years, from founding to its latest funding, stage changes and deals.
- Founded Qarmatek is founded.
- Funding First funding round of $281K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Angel Round, of $1.0M.
Competitors of Qarmatek
Qarmatek has 3 listed competitors in our database, 1 of them funded. They include Servify, TVS Electronics and LRP Captivators.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| servify.com | 2015 | Mumbai, India | $164.91M | Device lifecycle management is facilitated via an online platform. | ||
| tvs-e.in | 1986 | Chennai, India | Provider of electronic devices maintenance services | |||
| lrpcaptivators.com | 2019 | Noida, India | 44 | Offers electronics repair, warranty plans, and refurbished phones services. |
Detailed competitors of Qarmatek
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Top companies in Consumer Electronics E-Commerce
3 companies that operate in the same segment as Qarmatek (Consumer Electronics E-Commerce) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Refurbished and new gadgets are offered through an online marketplace. | 2009 | Gurugram, Haryana, India | USD 130.05 M | USD 99.25 M | 1,264 | |
Metabolic health is tracked via devices and fitness platforms. | 2019 | Bengaluru, Karnataka, India | USD 163.28 M | USD 65.48 M | 274 | |
Personal audio products, wearables, and mobile accessories are retailed. | 2016 | Gurugram, Haryana, India | USD 206 M | USD 346.34 M | 495 |
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Related news about Qarmatek
Complete news archive for Qarmatek
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Frequently Asked Questions about Qarmatek
Qarmatek was founded in 2011 and raised its 1st funding round 5 years after it was founded.
Qarmatek is headquartered in Ahmedabad, India. It is registered at Ahmedabad, Gujarat, India.
Qarmatek is a funded company, having raised a total of $5.11M across 4 funding rounds to date. The company's 1st funding round was a Angel Round of $281.39K, raised on May 2016.
Qarmatek has 415 employees.
The primary company behind Qarmatek, Qarmatek Services Private Limited, reported revenue of ₹51.49 Cr for FY 2024, down 23% year on year.
Qarmatek was founded in 2011 in Ahmedabad, India. Repair and refurbishment services for electronics, including mobile phones and large appliances, are offered alongside extended warranty plans. Certified refurbished mobile phones are supplied through a dedicated brand. Quick repair solutions for various devices are provided by another brand. EV charging infrastructure solutions are also delivered. Device lifespans are extended and e-waste is reduced via these operations.
Qarmatek's top competitors include Servify, TVS Electronics and LRP Captivators.
Qarmatek offers Electronic Repair Service, Refurbishment Service, and Doorstep Logistics.
Qarmatek has 19 investors. Key investors include Gujarat Venture Finance, Caspian Debt, Raajratna Ventures, Umang Nahata, and Rakesh Raman.
The valuation of Qarmatek is $12.05M as of Dec 2021.
Qarmatek operates through Qarmatek Services Private Limited.
The legal entities of Qarmatek currently have 3 directors, including Dhaval Rajeshbhai Vakta, Mihirkumar Arvind Joshi, Krunal Saumirbhai Shah.