Electronics renewal and refurbishment startup QarmaTek raises $1 million

QarmaTek, an electronics renewal and refurbishment startup based in Ahmedabad, has secured $1 million (Rs 8.3 crore) in a pre-Series A funding round co-led by Umang Nahata, Rakesh Raman, and Vishal Makwana. Nahata and Raman are affiliated with Orange Orbit, while Makwana represents Texspin.

This latest funding round brings QarmaTek’s total raised capital to $4.11 million. The startup previously raised $3 million in 2021 from Gujarat Venture Finance, Caspian Debt, and other investors.

Plans for Expansion

QarmaTek intends to use the new funds to broaden its operations across various categories within the renewed electronics market. The startup also plans to scale its operations and extend its geographical presence.

What Does QarmaTek Do?

Founded in 2011 by Krunal Shah and Arun Hattangadi, QarmaTek operates in the B2B sector, offering a range of services related to electronic products. The company provides multi-brand repair, refurbishment services, call center support, network and logistics services, and customized predictive solutions for devices such as smartphones, laptops, and home appliances.

By extending the lifecycle of these products through renewal and refurbishment, QarmaTek aims to support sustainability and contribute to a circular economy.

The Growing Concern of E-Waste

India produces a significant amount of e-waste annually, generating 1.71 million metric tons according to the Central Pollution Control Board. Globally, e-waste generation totals 59.40 million metric tons. A study by KPMG and ASSOCHAM indicates that computer equipment makes up nearly 70% of India’s e-waste, followed by telecom/phones at 12%, electrical equipment at 8%, and medical equipment at 7%.

QarmaTek’s mission is aligned with promoting sustainability and reducing e-waste. By focusing on renewing and refurbishing electronic products, the company helps extend their lifecycle and reduce waste generation. “Our goal is to enhance sustainability by extending the lifecycle of electronic products,” the company stated, highlighting its commitment to minimizing e-waste and supporting environmental conservation.

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