Bangalore Based Consumer Service Firm Receives Seed Fund


Bangalore Based Consumer Service Firm Receives Seed Fund

Bangalore: Jeeves Consumer Services, a Bangalore based company has received its first round of funding from Seedfund. The company aims to be completely integrated, service provider of choice in the consumer electronics, appliances and communications and computing space in India by the year 2013, reports DealCurry.

The consumer service company was founded by R N Balasubramanya, Alok Sen and SL Padmanabhan in 2007 and caters warranty & out of warranty services for consumer electronics, appliances, telecom and IT products, that include installation and commissioning, annual maintenance contracts, product testing, CRM solutions and supply chain services.

The venture capital firm Seedfund that operates in cities like Mumbai Delhi NCR and Bangalore, invests in companies both big and small and in all ranges of funds. "There is a big opportunity in bringing order to unorganised services. Startups that can do this will find a market," said Bharati Jacob, partner and co-founder of Seedfund.

Handling over 32000 calls per month, Jeevs focuses on B2B post sales service for consumer electronics and appliances. It supports about 26 international electronics and appliances brands like Toshiba, Panasonic, TCL, Sanyo etc and large format retail chains like Future Group, Metro Cash and Carry, Aditya Birla Retail and Croma in India.

According to a report by The Boston Consulting Group and the Confederation of Indian Industry, consumer expenditure in the country will rise from $991 billion in 2010 to $3.6 trillion by 2020, says TOI.