Secondhand goods seller Refabd raises USD 92,500 for seed round
Founders: Rahul Varma, Vineeth Kumar and Durai Gowardhan
Founded in: 2016
Financing status: USD 92,500 seed round in 2017
Online secondhand home appliances and furniture seller Refabd has raised USD 92,500 for its seed round from Athamus Venture.
Refabd is an online platform to buy secondhand quality tested home appliances and furniture. Refabd offers customers transparency on the quality and prices of products. To ensure quality, Refabd makes every product undergo thorough inspections before it is sold. The company has specialized quality control personnel consisting of technicians and quality control checkers that rate products based on predefined quality parameters. Customers can get to know the exact condition and history of products from quality ratings. Refabd offers customers free delivery with a six month warranty. In addition, it promises 24/7 after-sales services and support for customers.
The startup will use the newly raised investment to expand its team and expand its services to four more cities. Refabd only operates in Bangalore currently.
Energy management tech provider Ecolibrium Energy raises USD 2.6 million in undisclosed round
Founders: Chintan Soni, Harit Soni
Founded in: 2008
Financing status: Undisclosed round of USD 2.6 million in 2017
Energy management solution provider Ecolibrium Energy has raised USD 2.6 million led by Infuse Ventures, JLL Technology Ventures, and an angel investor.
The Ahmedabad-based company provides demand side management infrastructure to monitor and control power grid infrastructure for distribution companies, state owned companies, green power project developers, and large industries.
SmartSense, Ecolibrium’s big data energy analytics platform, provides energy intelligence to commercial and industrial corporate customers. The insights from its platform increase operational efficiency by optimizing energy usage and improving asset utilization. The company also helps power distribution companies to meet their demand side management goals by connecting with high power consuming consumers to help them manage the way they consume power.
The company claims that its has about 500 customers with 100 million daily data points. The company has big brand clients including Coca-Cola, Intas Pharma, Yamaha, Mahundra, Fiat, and Delhi Metro Rail Corp.
The startup will use the newly raised investment to deepen customer engagement and expand to international markets. The company will also focus on deep machine learning algorithms for electrical equipment.
(Top photo from Pixabay)