About Spare8
Spare8 is a company based in Mumbai (India) founded in 2021 by Ronit Harisingani and Shardul Saiya. Spare8 has raised $770 thousand across 2 funding rounds from investors including 2am VC, VCAPL and Rajiv Shastri. The company has 1 employees as of March 30, 2024. Spare8 offers products and services including Spare8 App. Spare8 operates in a competitive market with competitors including Jar, GoldMoney, SafeGold, Augmont and Plusgold, among others.
- Headquarter Mumbai, India
- Employees 1 as on 30 Mar, 2024
- Founders Ronit Harisingani, Shardul Saiya
- Stage Minicorn
-
Sectors
Technology
-
Email
Locked
-
Phone
Locked
-
Website
Locked
-
Social
Locked
- Legal Name Spare8 Platforms Private Limited
- Date of Incorporation 10 Dec, 2020
- Jurisdiction Mumbai, Maharashtra, India
-
Annual Revenue
$3.35 K (USD)3962.44as on Mar 31, 2023
-
Net Profit
-$255.11 K (USD)-3095.84as on Mar 31, 2023
-
EBITDA
-$248.1 K (USD)-4176.22as on Mar 31, 2023
-
Total Equity Funding
$770 K (USD)
in 2 rounds
-
Latest Funding Round
Not available
-
Investors
2am VC
& 12 more
-
Employee Count
1
as on Mar 30, 2024
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Products & Services of Spare8
Spare8 offers a comprehensive portfolio of products and services, including Spare8 App.
App for buying and managing digital gold with automatic savings
Funding Insights of Spare8
Spare8 has successfully raised a total of $770K across 2 strategic funding rounds. 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.
Investors in Spare8
Spare8 has secured backing from 13 investors, including angel, venture fund, and institutional investors. Prominent investors backing the company include 2am VC, VCAPL and Rajiv Shastri.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Early-stage venture funding for sector-agnostic startups in India.
|
Locked | Locked | Locked | |
|
Investments are directed by Broom Ventures toward early-stage tech companies.
|
Locked | Locked | Locked | |
|
Investment topics are explored through a dedicated blog platform.
|
Locked | Locked | Locked |
Investor details for Spare8
Investor domains, locations, round participation, and complete history require an active premium plan.
- Investor domains
- Investor locations
- Funding rounds
- Participation history
Verified entity values are shown only after access is granted.
Investments & Acquisitions by Spare8
Investment portfolio details for Spare8
Portfolio company identities, transaction dates, round details, and investment values require an active premium plan.
- Portfolio identities
- Transaction dates
- Round details
- Investment values
Verified entity values are shown only after access is granted.
Financial Statements - Spare8
Detailed financials for Spare8
Historical revenue, profit, statement rows, ratios, and trend charts require an active premium plan.
- Historical revenue
- Profit trends
- Statement rows
- Financial ratios
Verified entity values are shown only after access is granted.
Spare8 Comparisons
Peer comparison for Spare8
Named peer metrics, headcount, funding, location, and side-by-side benchmarks require an active premium plan.
- Named peers
- Headcount comparison
- Funding comparison
- Operating benchmarks
Verified entity values are shown only after access is granted.
Competitors of Spare8
Spare8 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 Jar, GoldMoney, SafeGold, Augmont and Plusgold, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| Locked | Locked | Locked |
Jar is recognized as a leading digital gold savings app in India.
|
|
| Locked | Locked | Locked |
Bullion trading and vaulting company
|
|
| Locked | Locked | Locked |
Provider of a digital platform for buying, selling, and storing 24K gold
|
|
| Locked | Locked | Locked |
Alternative investments in digital gold and silver are facilitated.
|
|
| Locked | Locked | Locked |
Digital gold investment app allowing users to purchase and redeem gold as jewelry at partner jeweler stores
|
|
| Locked | Locked | Locked |
Blockchain is applied to mortgage and insurance application processes.
|
Detailed competitors of Spare8
Competitor domains, locations, full profiles, and operating metrics require an active premium plan.
- Domains and locations
- Full company profiles
- Operating metrics
- Competitive positioning
Verified entity values are shown only after access is granted.
Latest news on Spare8
Complete news archive for Spare8
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Spare8
Spare8 was founded in 2021 and raised its 1st funding round 1 year after it was founded.
Spare8 is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Spare8 is a funded company, having raised a total of $770K across 2 funding rounds to date.
As of Mar 30, 2024, the latest employee count at Spare8 is 1.
Annual revenue of Spare8 is $3.35K as on Mar 31, 2023.
Spare8 was founded in 2021 in Mumbai, India, within the fintech sector focused on digital gold. Investments in digital gold are permitted from minimal amounts through the platform. Automated savings plans and rewards programs are provided to users. Redemption of digital gold for physical gold is supported. Assets are protected via secure vaults and encryption protocols.
Spare8 offers Spare8 App.
Spare8 has 13 investors. Key investors include 2am VC, VCAPL, Rajiv Shastri, Param Agrawal, and Broom Ventures.
The valuation of Spare8 is $2.8M as of Jul 2022.