The funds will be utilised for technology, operations, marketing & sales
FinTech BizNews Service
Mumbai, November 30, 2023: Onedios an aggregator platform for customer care service has raised INR 6 Crores in a bridge Round led by Inflection Point Ventures and VCATs. The funds will be allocated towards onboarding retailers who will sell Branded/OEMs extended warranties instead of third party extended warranties.
OneDios is a pioneering platform 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.
Founded in 2019, Nitin Chawla Founder and CEO brings over 16 years expertise in technology and consulting sales, notably from his impactful tenure at IBM. With a Ph.D. in Cloud Computing, Nitin is a trailblazer known for innovation and leadership, driving OneDios' technology development and B2B sales. Co-Founder and COO Amit Sharma is a seasoned technology expert and business leader. His journey from founding a startup to steering global teams at IBM underscores his exceptional leadership. Amit's hands-on approach and strategic acumen drive business and customer operations.
Ankur Mittal, Co-Founder, Inflection Point Ventures, says, “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. 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”.
Nitin Chawla, CEO & Co-Founder, Onedios, says,” 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.
I have got great support from IPV as a platform to raise funds. IPV’s evaluation process is very extensive but once you are evaluated, IPV becomes founders first platform and try to offer every possible opportunity not only to raise funds but also to grow business.”
The consumer electronics and household appliances segment witnessed remarkable sales, with over 1.3 billion units sold in 2022 alone, according to Statista. Projections suggest a robust 5.5% compound annual growth rate (CAGR) from 2022 to 2027, indicating an estimated 5 billion existing units within the market. Considering the typical three-year lifespan of these products, an estimated 1.6 billion requests covering demos, installations, warranty registrations, and general services are directed to brands annually, primarily via call centers. Notably, the in-warranty request sector remains untapped, presenting a significant opportunity within the industry.
About Onedios
Founded in 2019 by Nitin Chawla and Amit Sharma, OneDios pioneers a unified request platform in the consumer electronics industry, connecting dealers, distributors, and consumers seamlessly through proprietary technology. With over 7.5 lac customers served, the platform allows swift service bookings, complaint resolutions, and digital interactions across 100+ renowned brands. Recognized as an "Eligible Business" under Income Tax Act 1961, OneDios holds granted patents and collaborates with marquee brands like Daikin, Voltas, and many others, offering a hassle-free, integrated experience.
About Inflection Point Ventures & Physis Capital
Inflection Point Ventures (IPV) is an angel investing platform with over 9600 CXOs, HNIs, and Professionals to together invest in startups. The firm supports new-age entrepreneurs by providing them with monetary & experiential capital and connecting them with a diverse group of investors. IPV has announced the launch of a $50 million CAT 2 AIF, Physis Capital, to invest in pre-Series A to Series B growth-stage start-ups.
