Electronics renewal and refurbishment startup QarmaTek raises $1 million

Ahmedabad-based electronics renewal and refurbishment startup QarmaTek has raised $1 million (Rs 8.3 crore) in a pre-Series A funding round co-led by Umang Nahata, Rakesh Raman, and Vishal Makwana.

Nahata and Raman are associated with Orange Orbit, while Makwana is from Texspin.

The latest round brings QarmaTek’s all-time raise to $4.11 million. Prior to this, the startup raised $3 million in 2021 from Gujarat Venture Finance, Caspian Debt, and other investors.

Expanding operations

QarmaTek plans to use the raised capital to expand its operations into multiple categories within the renewed electronics market.

The startup will also focus on scaling its operations and growing its geographical footprint. 

What does QarmaTek do?

Founded in 2011 by Krunal Shah and Arun Hattangadi, QarmaTek operates primarily in the B2B space, offering a variety of services related to electronic products.

The startup provides multi-brand repair services, refurbishment services, call centre services, network and logistics services, and customized predictive solutions for gadgets such as smartphones, laptops, and home appliances.

By extending the lifecycle of these products through renewal and refurbishment, QarmaTek aims to promote sustainability and contribute to a circular economy.

Why is e-waste a growing concern?

India generates a significant amount of e-waste each year. According to the Central Pollution Control Board, the country produces 1.71 million metric tons of e-waste annually. This is part of a global issue, with worldwide e-waste generation reaching 59.40 million metric tons.

A study by KPMG and ASSOCHAM reveals that computer equipment constitutes almost 70% of India's e-waste, followed by telecom/phones (12%), electrical equipment (8%), and medical equipment (7%). 

QarmaTek’s mission is closely aligned with sustainability and the reduction of e-waste. By focusing on the renewal and refurbishment of electronic products, the company extends their lifecycle, thereby reducing the volume of waste generated.

This approach not only helps manage e-waste but also supports a circular economy. "Our aim is to promote sustainability by extending the lifecycle of electronic products," the company said, emphasizing its commitment to reducing e-waste and contributing to environmental preservation.