Last updated : June 17, 2020 9:30 am
Gabbardeals has tied up with 30+ mobile phone franchise stores. The latest funding will allow Gabbardeals to ramp up its operations, expand services and forge new partnerships.
Venture Catalysts, India’s first, largest and pioneering integrated incubator and accelerator platform, has recently invested in Gabbardeals, an omnichannel O2O platform for mobile phones and accessories. The latest funding will allow Gabbardeals to ramp up its operations, expand services and forge new partnerships.
Founded by industry expert & serial entrepreneur Niraj Raka, and co-founded by seasoned professional Poonam Gugale and Piyush Raka, Gabbardeals is committed to transforming the billion-dollar unorganized mobile retail space. The company works on a unique phygital (physical + digital) model that combines the advantages of both offline and online retail, creating a win-win situation for all players – brand, retailer and consumer. The USP of Gabbardeals is that it synergizes offline and online retail to offer fast, seamless delivery of products while bringing down the customer acquisition cost for retailers.
Talking about the investment, he added, “We now have the cash runaway to scale our operations, develop technology and achieve sustainable growth.”
Speaking on the investment, Dr Apoorv Ranjan Sharma, Founder, Venture Catalysts, said, “Within a short span of time, Gabbardeals has emerged as a promising player in the mobile retail space. Their omnichannel approach has proven to be effective and profitable, which gives them a winning advantage. This is besides the fact that all the co-founders of Gabbardeals are dynamic leaders and have shown exceptional growth in their own capacities. We are confident that it will fulfil its vision of becoming the fastest-growing omnichannel platform for mobile phones in India and globally.”
Aalesh Avlani - Partner, Samyakth Capital said, ‘’ After speaking to a lot of mobile retailers in the market we realized that these retailers struggle with customer acquisition costs & a lack of technology. Gabbardeals has perfectly positioned itself to be a blend of traditional retail and e-commerce by empowering these mobile retailers address these challenges. The Asset-light business model of Gabbardeals will allow them to scale with minimal burn and help them focus on being profitable at a unit-economic level, a theme that has been made more prevalent post the COVID-19 pandemic’’
With a widespread presence spanning across India, Gabbardeals has already established a strong footprint in both metros and small towns. So far, it has tied up with 30+ mobile phone franchise stores. Gabbardeals has sold 26,000+ mobile phones and 17,000+ accessories, registering a gross merchandise volume (GMV) of over Rs 50 crore.