Onedios, an aggregator platform for customer care service, has raised Rs 6 crore in a bridge round of funding led by Inflection Point Ventures, a Gurugram-based angel investment platform. VCATs also participated in the round.
According to the startup, the raised capital will be allocated towards onboarding retailers who sell branded/OEM extended warranties instead of third-party ones.
Revolutionizing the consumer electronics industry
Founded in 2019 by Nitin Chawla and Amit Sharma, OneDios said it is revolutionizing the consumer electronics industry by seamlessly connecting dealers, distributors, brands, and consumers through its patented technology, enabling swift service bookings, complaint resolutions, and digital interactions across over 100 renowned brands.
The startup, having served more than 750,000 customers, enables quick bookings for services, resolves complaints, and facilitates digital interactions with over 100 famous brands. It boasts of having patents and works with top brands such as Daikin and Voltas, providing an easy and seamless experience.
Who are the founders?
Nitin Chawla, the Founder and CEO, has more than 16 years of experience in technology and consulting sales, including a significant period at IBM.
He holds a Ph.D. in Cloud Computing and is recognized for his innovative and leadership skills, particularly in developing technology and managing B2B sales at OneDios. Amit Sharma, the Co-Founder and COO, is an experienced technology professional and business leader.
Nitin Chawla, CEO and Co-Founder of Onedios, said,” We have started onboarding retailers to sell OEM extended warranties in Delhi, Haryana, Uttar Pradesh, and Maharashtra. Voltas, Daikin, and Bluestar Brand shops are our first target. This fund will help us in having more and more retailers before the summer season kicks in. We are targeting to enable warranty sales to all OEMs through our platform via retailer channel."
Why did IPV invest in Onedios?
Ankur Mittal, Co-Founder of Inflection Point Ventures, said, “With ever evolving technology, customers seek for services at fingertips across segments from banking, shopping, healthcare and more. However few services have always been a little time consuming and one such is customer service of electronic products."
Ankur said OneDios bridges this gap with its unified platform through proprietary tech. It also offers unique brand-authorized extended warranties, rapid CRM integration, and a patented, in-house-developed platform.
"In its short tenure the company has not only onboarded leading brands but also gained government recognition and a focus on a digitally engaged community. With its strategic moves, OneDios promises to lead the market as creator and leader," he said.
The current landscape of the industry
In 2022, the consumer electronics and household appliances industry experienced strong sales, selling over 1.3 billion units, as per Statista. The sector is expected to grow at a compound annual growth rate (CAGR) of 5.5% from 2022 to 2027, potentially reaching 5 billion units in the market.
Given that these products typically have a three-year lifespan, brands receive an estimated 1.6 billion annual requests for demos, installations, warranty registrations, and services, mostly through call centres. The sector of in-warranty requests remains largely unexplored, offering a significant business opportunity.
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