Gadgetwood, a brand-agnostic company into repair and support services for mobiles and tablets, has raised $6 million (about ₹42 crore) from India-focussed private-equity firm Carpediem Capital and its investors. Following the investment, Carpediem Capital founder and MD Abhishek Sharman will join Gadgetwood’s board.

“We will utilise the funding to expand our presence to other geographies, starting with the metros of Bengaluru, Mumbai and Chennai, and moving to set up a presence across 10 cities over the next year. We are also looking to more than double our employee base to 350 from the present 120,” said Gadgetwood co-founder and CEO Jayant Jha.

This is the second round of funding for Gadgetwood, which last year raised an undisclosed sum from individual investors of Indian Angel Network including Ajai Chowdhry of HCL, Ashvin Chadha of North India Sotheby’s International Realty and Yogesh Bansal of ApnaCircle.com. The first round was also supported by Nitin Singhal of Fresco Global.

Founded in 2013 by entrepreneursJha, Ankit Saraf and Anmol Gupta, the New Delhi-based company offers repair and support services for mobiles and tablets across all brands. It repairs more than 10,000 devices every month and is an authorised service provider for a global handset manufacturer. “Further, we are also looking to broaden the scope of our repair capabilities to include, laptops, wearable tech and LED TVs,” he said.

“This investment has been made from the first fund of ₹200 crore, of which we have already deployed about 20 per cent and have committed to invest about 30 per cent. The investment in Gadgetwood is in line with Carpediem’s philosophy of investing in emerging leaders in the organised services category,” Carpediem’s Sharman said.

The PE fund typically invests about $3-10 million in the companies from the fund.

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