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Name of the Company: HyperXchange
Set up in: February 2016
Based in: Kolkata and Pune
Founders : Dipanjan Purkayastha (CEO); Satanik Roy (Product); Asish Chakraborty (Technology); Dwijo Chatterjee (Operations)
Funding: Raised strategic undisclosed amount following which CP Gurnani (CEO, Tech Mahindra) joined the advisory board and his son Asish Gurnani joined the board.
HyperXchange is strategically led by the leadership team of Syska.
What it does: Is an Online-to-Offline (O2O) marketplace for premium refurbished gadgets with lowest price guarantee, automated diagnostics and 12-month warranty.
How it does it: On the supply side, its proprietary technology platform uses analytics and deep learning to diagnose, revalue and certify old gadgets, enabling accurate refurbishment. On the demand side, there is an online demand generation and offline distribution-led model.
HyperXchange leverages a 3,000-plus national retail network of strategic investors to scale on the ground in each region, enabling easy availability and efficient recycling of hyper-local inventory.
Big moments: Was one of two start-ups from India to be selected for the global event, Collision 2018; Was Incubated by IIM Calcutta Innovation Park and Microsoft in its BizSpark program.
Impact: Declared ‘Outstanding Start-up in East India’ by Calcutta Angels; Declared ‘Top 3 Start-up in East India’ by Indian Chamber of Commerce; Selected in IIT Mumbai for ‘10 minutes to millions’; Selected in ‘The Pitch, Istanbul’, and featured in Nasscom Product Conclave, Bengaluru.
Vision: To establish Indian retail distribution network for online and offline mobile stores; To scale up internationally in GSM mobile markets in the UK, Europe and S-E Asia; To launch configurable build-your-own phones, enter the US market for refurbished gaming consoles and have its own HX branded recycled line of gadgets. In short, achieve leadership in every market it is present.
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