About Qarmatek
Qarmatek is a company based in Ahmedabad (India) founded in 2011 by Arun Hattangadi and Krunal Shah.. 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 as of April 05, 2024. Qarmatek offers products and services including Electronic Repair Service, Refurbishment Service, and Doorstep Logistics. Qarmatek operates in a competitive market with competitors including Servify, TVS Electronics, LRP Captivators, 3ST and UnlockNinja, among others.
- Headquarter Ahmedabad, India
- Employees 415 as on 05 Apr, 2024
- Founders Arun Hattangadi, Krunal Shah
- Stage Minicorn
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Sectors
RetailBusiness Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Qarmatek Services Private Limited
- Date of Incorporation 14 Apr, 2011
- Jurisdiction Ahmedabad, Gujarat, India
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Annual Revenue
$6.13 M (USD)18.29as on Mar 31, 2022
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Net Profit
$-481.99 K (USD)-399.64as on Mar 31, 2022
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EBITDA
$-80.68 K (USD)-115.55as on Mar 31, 2022
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Total Equity Funding
$5.11 M (USD)
in 4 rounds
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Latest Funding Round
$1 M (USD), Angel Round
Jul 09, 2024
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Investors
Gujarat Venture Finance
& 18 more
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Employee Count
415
as on Apr 05, 2024
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Products & Services of Qarmatek
Qarmatek offers a comprehensive portfolio of products and services, including Electronic Repair Service, Refurbishment Service, and Doorstep Logistics. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
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
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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 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 Total Funding
- Total Rounds 4
- Last Round Angel Round — $1.0M
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First Round
First Round
(21 May 2016)
- Investors Count 19
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2024 | Amount | Angel Round - Qarmatek | Valuation | Umang Nahata , Rakesh Raman |
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| Dec, 2021 | Amount | Series A - Qarmatek | Valuation | Gujarat Venture Finance , Caspian Debt |
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| Sep, 2018 | Amount | Angel Round - Qarmatek | Valuation | Heli Dhinal Patel , Devendra Podpatlal Patel |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital investments are made in Indian startups across multiple sectors.
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Founded Year | Domain | Location | |
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Provision of customized debt financing to impact-driven companies in key sectors.
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Founded Year | Domain | Location | |
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Manufacturing of engineering products, solar solutions, and crepe paper by Raajratna Ventures.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Qarmatek
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Qarmatek
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Qarmatek Comparisons
Competitors of Qarmatek
Qarmatek operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Servify, TVS Electronics, LRP Captivators, 3ST and UnlockNinja, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Device lifecycle management is facilitated via an online platform.
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| domain | founded_year | HQ Location |
Provider of electronic devices maintenance services
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| domain | founded_year | HQ Location |
Offers electronics repair, warranty plans, and refurbished phones services.
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| domain | founded_year | HQ Location |
Offers repair and service solutions for electronics, appliances, and IT products nationwide.
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| domain | founded_year | HQ Location |
Provides cell phone unlocking codes and IMEI services for various mobile brands.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Qarmatek
Frequently Asked Questions about Qarmatek
When was Qarmatek founded?
Qarmatek was founded in 2011 and raised its 1st funding round 5 years after it was founded.
Where is Qarmatek located?
Qarmatek is headquartered in Ahmedabad, India. It is registered at Ahmedabad, Gujarat, India.
Is Qarmatek a funded company?
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 $827.44K, raised on May 21, 2016.
How many employees does Qarmatek have?
As of Apr 05, 2024, the latest employee count at Qarmatek is 415.
What is the annual revenue of Qarmatek?
Annual revenue of Qarmatek is $6.13M as on Mar 31, 2022.
What does Qarmatek do?
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.
Who are the top competitors of Qarmatek?
Qarmatek's top competitors include Servify, TVS Electronics and LRP Captivators.
What products or services does Qarmatek offer?
Qarmatek offers Electronic Repair Service, Refurbishment Service, and Doorstep Logistics.
Who are Qarmatek's investors?
Qarmatek has 19 investors. Key investors include Gujarat Venture Finance, Caspian Debt, Raajratna Ventures, Umang Nahata, and Rakesh Raman.
What is Qarmatek's valuation?
The valuation of Qarmatek is $12.05M as of Dec 2021.