On Monday, the after-sales service firm Onsitego said that they had raised $19 million led by the Zodius Growth Fund with the participation from the existing investor named Accel Partners. This fund will be used to rotate to a more business-to-consumer model and to expand the distribution to general trade retailers – told by the Founder and CEO of Onsitego named Kunal Mahipal. He also said that the startup is also planning to consolidate its position in the device protection market, as well as develop to the Annual Maintenance Contract (AMC), on-demand, and home protection services.
Onsitego offers post-purchase services via a network of brand authorized service centers across the country. Also, it provides installation and brand warranty services, on-demand services as well as device protection for electronic products in partnership with the top retailers in India like Vijay Sales and Chroma. It has served over 6 million customers in India.
The IIM Bangalore alumnus was first founded by Mahipal in 2010, and the goal of Onsitego is to plug the gaps in the pieces after-sales ecosystem because of the problems of quality, accessibility and transparency by influencing the technology platform.
The Series B of Onsitego round would be developed in the following two/three months to facilitate other newer investors. The company will maintain its focus on India, and its plan would be expanding to South Asia – said by Mahipal.
Prayank Swaroop, the partner, said that they had invested in Onsitego five years ago as an earlier investment. The company had grown exponentially from that time, even without wasting any capital.