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Blubirch secures $2M from Chicago Capital Ventures & other investors

blubirch

Bangalore based Blubirch, a reverse-logistics provider, has raised $2 million in funding from Chicago Capital Ventures, Sanjay Mehta and other undisclosed investors. The company will use the funds for expanding its services to 6 more cities as well as for hiring.

As of now Blubirch provides solutions for IT asset management, remarketing and deals with refurbished customer returns. It also provides services like asset life cycle management, asset buyback, procurement services, rental services and trade in services to enterprises and grading & valuation services, exchange programs, sell customer returns and excess inventory management to retailers.

Interestingly the company also lists consumer services like purchase of refurbished products from multiple sellers on Value4Price and ‘sell used’ services. The ‘sell used’ service is currently listed as launching soon. Founded in 2014 by Sapan Jain, Jeby Cherian, Amit Goel, and Jayathirtha P. Katti, Blubirch currently has offices in Bangalore, Mumbai and Singapore.

Refurbished product sellers: Refurbished goods are usually electronic goods that have been repaired from an on-working condition and are subsequently sold at a fraction of the original price, depending on the level of repair. With online services providing seller’s warranty for these goods and the low cost advantage, the demand for such goods has been increasing. In August, Amazon India started selling refurbished smartphones from Surpluss on its platform while Junglee started selling unboxed and refurbished electronic products from Overcart and GreenDust in April. In January, Xiaomi piloted an unboxed and refurbished smartphone retail model with Overcart.

Other developments in logistics:

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– Earlier this month, Holisol logistics raised $10 million from CLSA Capital Partners, while logistics company Parsel acquired BillBoxGo through a cash and revenue sharing agreement.

– The same month, QikPod raised a little over $9 million (Rs 60 crore) from Foxconn, Accel Partners, Flipkart and Delivery.

– In October, Grofers acquired the B2B logistics service provider Townrush, while MagicTiger acquired Zoyo, an artificial intelligence based platform that let users shop over chats

– The same month, Bangalore based shipping services startup Parcelled raised $5 million from Delhivery and Tracxn labs.

– In September, logistics data analytic firm LogiNext raised $10 million in funding from Paytm, while Delhi-based ShadowFax raised $8.5 million in funding from Eight Roads Ventures.

– Opinio raised $7 million in a Series A round of funding from Delhivery, Sands Capital and Accel Partners.

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– Snapdeal invested $20 million in logistics firm GoJavas to enhance its supply chain and logistics.

 

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