Servify, a Mumbai-based startup that provides device management services and warranty solutions for all devices that touch daily lives, announced that it has raised Series C funding from a clutch of existing investors.
According to exchange filings, Servify has allotted over 27.23 lakh Series C compulsorily convertible preference shares (CCPS) at a face value of Re 1 and a premium of Rs 314.35, taking the total amount raised to above Rs 85.87 crore.
Investors that have subscribed to these Series C CCP shares include the India-focussed Iron Pillar, the Luxembourg-based Tetrao SPF, and Blume Ventures via Milestone Trusteeship Services Pvt. Ltd.
Anand Prasanna, Managing Partner at Iron Pillar, said that the move was a proactive step to provide additional capital to well-performing companies from its debut fund during the COVID-19-caused pandemic.
Founded in 2015 by Sreevathsa Prabhakar, Servify claims to offer the world’s most advanced self-learning platform that delivers great customer experience. Servify’s operations span across 3 continents and caters to 45+ ‘Brands’ across verticals.
Earlier in 2018, Servify raised $15 million Series B funding led by Iron Pillar. Existing investors Blume Ventures and Beenext also participated in that round. Prior to that, the company had raised funds from Blume Ventures, Beenext and two German firms, Barkawi Holdings GmbH and TM Service Technology Holdings GmbH.
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