IT/Reverse logistic service startup, Blubirch has raised $2 Million in angel round of funding from Chicago Capital Ventures, Sanjay Mehta and others. This round also saw participation from Angel and PE investor. The company will use the fund to expand its services in India and abroad as well as strengthening its team to support its operations.
Blubirch is a Bengaluru based startup that offers end-to-end solutions for electronics and IT reverse logistic. The startup was started by Sapan Jain, Jeby Cherian, Amit Goel, and Jayathirtha P. Katti in April 2014. The startup maximizes the returned, unsold or unused technology assets. The main reason of the inception of the company was to provide solutions for asset managements, re-marketing, refurbished, customer returns and excess inventory.
The CEO and Co-founder of Blubirch said, “While technology is at the forefront of what we do at Blubirch, our main focus is to assist our clients manage their complete range of technology assets. The fund raised will be used to further enhance the technology platform and to expand the operation across 6 more cities.”
Currently, the startup offers services to retailers, enterprises and individual customers. According to the company, it has multiple fortune 500 companies as its clients. Its business is also said to be spread across 20 countries with almost 2,000 resellers in its global network.
According to the company, Blubirch has already a network with more than 3,000 partners across the globe for redeployment and operates at the rate of over $15 Million. The company is also planning to launch consumer services and is hoping to touch more than $9 Million revenue mark by early next year.