IAN invests in online mobile repair service provider Gadgetwood

Indian Angel Network has announced its investment in Gadgetwood, an online service provider for multi brand repair and support services for mobiles, smart phones and tablets. The investment was led by IAN investor members Ajai Chowdhury, Nitin Singhal, and Ashvin Chadha, Yogesh Bansal. Ashvin and Yogesh have also joined Gadgetwood’s board.

Mobility is one of the most growing industries today and has the maximum bandwidth of customers. These customers often suffer a great deal as and when the device becomes dysfunctional. In the current scenario, users at times have no option but to throw away their faulty devices and buy a new one as the cost of getting spares replaced at OEM outlets is higher or equivalent to getting a new one. This is where Gadgetwood comes in; they provide users with an economical repair solution with an after repair warranty of 30 days (extendable up to a year) that helps generate trust in the services. This service is available to consumers and SMBs on-demand at their door step, online and even in-store.

Founded in April 2013, Gadgetwood aims at creating a multi brand repair service brand for consumers for their requirements on smartphone and tablets, provide customized services for SMB's as per their requirements and extended warranty and complete care plans for smartphones and tablets. Gadgetwood has recently introduced an android app which is available in play store.

Commenting on the company’s growth strategy, Yogesh Bansal, IAN investor, said, “Gadgetwood solves an important problem faced by gadget/smartphone users. It is a market space which has not been explored appropriately and has a lot of potential to solve the problems faced by users. A one stop solution for both the individual users as well as the SMBs, Gadgetwood has come a long way to gradually establish this space. We will see a lot of growth & development in this space in the forthcoming years.”

Jayant Jha, Co-founder and Director, Gadgetwood eServices Pvt said, “IAN’s investment will enable us in strengthening our team and making technological upgrades which will help us go deeper in to the Delhi Market. The next step would be then to geographically expand to other metros in the country. With the amount of rich experience that the investors will bring in to mentor us, we are confident that we will see a surge in our business as well as in creating a strong and compelling service delivery for the users.”

“We have lately launched complete care plans enabling users to extend the warranty for 2 years and the latter will cover devices from accidental damages. Also, we are planning to launch extended warranty service for our customers,” added Jha.
Ashvin Chadha, an IAN investor said “Gadgetwood is in the continuous process of innovating with their services and this will help prepare them in involving with the users in the entire life cycle of smartphones starting from the point of purchase. Jayant and his team brings in a rich experience, a great understanding of this space and an exciting service model and we feel the future is bright for team Gadgetwood.”