Servify

Servify, a company that manages lifecycle of devices for several smartphone vendors in many markets, on Wednesday said it has raised USD 65 million (around Rs 520 crore) in a round led by Singularity Growth Opportunity Fund. The startup, which serves global brands like Samsung and Apple, has raised the money at a valuation which is just under USD 1 billion, its founder Sreevathsa Prabhakar told PTI, adding that it would have achieved the 'unicorn' status after this round itself, if not for a few challenging conditions set by investors. It has consciously raised money from domestic investors in this round because it aims to go public through an Initial Public Offering (IPO) in the next 18-24 months, he said. Investors in the new round include family offices like that of Pidilite, and also existing investors like Iron Pillar, BEENEXT, Blume Ventures, and DMI Sparkle Fund, he said, adding there is a possibility of it raising another USD 5-7 million in the next month to close the round

Servify helps store bills and warranty on cloud, in addition to connecting with branded authorised service providers