Servify Raises $23 Million in Series C, Led by Iron Pillar
23.9.2020 10:45:00 EEST | Business Wire | Press release
Servify , the device lifecycle management platform that integrates multiple OEM Brands and their sales and service ecosystem to deliver great after-sales service experience today announced that they have raised $23M in Series C financing. This round was led by its existing investor Iron Pillar, an India focused venture growth investor from its recently concluded Top Up Fund.
In addition to all the existing investors such as Blume, Beenext and Tetrao SPF, this funding round also saw participation from funds managed by Global Alternatives Investor 57 Stars, multiple strategic investors like Sparkle Fund (an investment arm of DMI Finance), SF Roofdeck Capital LLC (Investment arm of Silicon Valley Investment Bank FT Partners), Go Ventures (investment arm of Go PLC, a Maltese integrated telecommunications company) and Madhu Kela Family Office. Servify’s existing Venture Debt provider Trifecta Capital also participated in the round.
Sreevathsa Prabhakar, Founder, Servify said, “It is very satisfying as we have more than quadrupled our revenue in 2020 till date, and raised funds for expansion even during the tough economic climate. This further strengthens our belief that we have built a globally scalable sound business that is not only trusted by large brands, but also the investor community.”
Servify runs Device Protection programs for Apple, Samsung, OnePlus, Xiaomi, Nokia, Motorola, Airtel etc. and also runs device exchange/buyback programs for Apple, Samsung and OnePlus across their authorised sales channels. Servify is headquartered in Mumbai, India and has subsidiaries in 8 countries. Servify aims to utilise the funding to scale up its global operations and further enhance its technology platform.
Anand Prasanna, Managing Partner at Iron Pillar, added “Servify is a unique business built from India for global markets with no pure comparable companies anywhere. Their software is also solving a hard problem of after sales service experience for marquee brands with very high standards. We are keenly interested in unique businesses addressing hard problems in very large and global markets and are excited to continue to back the company in its next phase of growth. Stellar execution by Servify’s team combined with its differentiated technology platform have led to the company’s impressive growth this year despite Covid-19 related challenges.”
About Servify:
Servify, the device lifecycle management platform, integrates multiple OEM Brands and their sales and service ecosystem to deliver great after-sales service experience. Started in 2015, India Headquartered Servify has spread its reach in 50+ countries across the globe. Partnering with 50+ brands including top mobile device brands, retailers, distributors, insurers, service providers, and carriers. The platform today supports 3mn+ monthly transactions. In just 5 years of its operation, it already has over 43,000+ retail locations connected and 16,000+ service partners integrated, among others.
Additional information on Servify is available at www.servify.tech
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200923005024/en/
Contact information
Debapriya Ghosh Biswas
debapriya.g@servify.in
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Ant Group’s AI Health App AQ Reaches 150 Million Users as It Expands AI-powered Day-to-day Health Use Cases10.9.2026 15:47:00 EEST | Press release
At the 2026 INCLUSION · Conference on the Bund in Shanghai, Zhang Junjie, Vice President of Ant Group and Head of the Health Business, announced that Ant Group’s flagship AI health app AQ has reached 150 million users, handling nearly 20 million health inquiries per day. The new milestone also means AQ has grown its user base by 50% in just 8 months, since it announced 100 million users in February 2026, reflecting strong demand in China’s AI health space. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260910921103/en/ Ant Group’s AI health app AQ provides personalized health advice based on more than 10 health indicators. Health has become an increasingly important priority among Chinese consumers. According to Accenture’s China Consumer Insights report published in November 2025, the share of Chinese consumers who considered health a priority increased from 78% in 2021 to 87% in 2025, making it the top priority among the a
AULUMU Introduces A18 Series for iPhone 18 With Aramid Fibre, Hybrid Protection and Distinctive Finishes10.9.2026 15:43:00 EEST | Press release
Technology accessories brand aulumu has introduced the A18 Series for iPhone 18, a new collection of smartphone cases designed around lightweight protection, material innovation and distinctive visual finishes. The range includes the A18 Armor Shockproof Aramid Fiber Case, two ultra-slim aramid fibre models, the Ghost Lumen Transparent Case, and the Particle Vegan Leather Case. At the centre of the collection, the A18 Armor combines 1500D aramid fibre and thermoplastic polyurethane (TPU) in a one-piece construction. The hybrid structure pairs the light weight and woven texture of aramid fibre with the flexibility and cushioning properties of TPU. A full-wrap design covers the phone’s edges, while reinforced corners are intended to help distribute impact from everyday drops and bumps. The case is designed to provide drop protection from heights of up to 2 metres, with a 1.36 mm raised screen edge and a 1.3 mm raised camera frame providing additional protection around key areas. The A18
BGC Group Announces its First-Ever Fully AI Brokered Institutional Trade in Listed Equity Derivatives10.9.2026 15:30:00 EEST | Press release
BGC Group Inc. (Nasdaq: BGC) (“BGC”), a leading global brokerage and financial technology company servicing financial markets, today announced it has launched Fenics AI, and that its subsidiary, Aurel BGC, has completed its first-ever fully AI brokered institutional trade in listed equity derivatives, using autonomous AI-powered systems to manage the trading workflow from price discovery through to execution. Fenics AI, BGC’s new proprietary AI trading technology, arranged this landmark transaction on September 3, 2026, in Eurex listed Swiss SMI options between two institutional accounts, including Hudson Bay Capital. This successful first AI trade follows rigorous development and testing to ensure compatibility with applicable market conventions, rules and governance. Fenics AI is expected to be made available to BGC’s clients during the fourth quarter 2026 to deliver significant efficiencies across the trade lifecycle, including price discovery, execution, trade processing, and settl
Coulson Aviation Defines the Next Chapter of Innovation With EmberWorks10.9.2026 15:03:00 EEST | Press release
Coulson Aviation is moving forward with EmberWorks, its dedicated innovation division created to turn real-world operational challenges into new capabilities for aerial firefighting, aviation, and emergency response. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260910644135/en/ Comparison imagery demonstrates how ORBIT uses airborne thermal sensing and automated processing to identify wildfire activity and generate geolocated fire intelligence. First introduced at the Aerial Fire Fighting Global Conference in Rome earlier this year, EmberWorks formalizes an approach to innovation that has existed throughout Coulson’s history. From aircraft modification and mission-system development to programs such as C-130 airtanker, Boeing 737 Fireliner, and CH-47 Chinook helicopter, Coulson has long developed solutions in response to real-world operational needs. EmberWorks builds on that history by giving this approach a dedicated str
Radisys Launches V.AI Ecosystem to Accelerate Telecom AI Service Innovation10.9.2026 15:00:00 EEST | Press release
Radisys® Corporation, a global leader in open telecom solutions, today announced the launch of its V.AI ecosystem, bringing together applications, development tools and leading voice and speech AI technologies to help telecom operators create, deploy and monetize AI-powered communication services for consumers and business subscribers. The V.AI ecosystem, which has evolved since the launch of the Radisys Engage Digital Platform (EDP) at MWC Barcelona in 2022, draws on two decades of Radisys leadership in real-time media processing and a global footprint across live operator networks. Seamlessly integrated with EDP, the ecosystem gives operators multiple paths to market. Operators can deploy turnkey applications, customize services for specific markets and customer segments, or create new device-independent, network-delivered experiences through V.AI Studio, Radisys’ development environment for voice and video AI services. Charter members of the V.AI ecosystem, ElevenLabs, Hiya, ReadSpe
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom