QarmaTek, an electronics renewal and refurbishment startup has lifted $1million (Rs. 8.3 crore) in Pre-Series A funding round directed by Umang Nahata, Rakesh Raman &Vishal Makwana.

The startup has raised a total funding amount of $4.11 million till date. In the year 2021, QarmaTek has bagged $3million from the prominent financial backers such as Gujarat Venture Finance, Caspian Debt & others.

According to the press release released by the startup, the raised funds by the startup will be utilized towards intensifying into diverse categories in electronic renewals, streamline operations and augment the organization’s presence geographically.

Established in the year 2011 by Krunal Shah & Arun Hattangadi, Qarmatek aids in the space of B2B in the retail market sectors and acts as a strategic provider of after-sale repair services. The startups presents multi brand renovating services, revamping services, call services, logistics and network services, personalized and predictive services, restoration services for diverse types of electronic gadgets such as smartphones, desktops, laptops, home-related appliances and appliance brands.

Based in Ahmedabad, the startup QarmaTek intends to endorse sustainability by expanding the lifecycle of high-ended electronic products through refurbishment and renewal, thereby cutting-down the e-waste and backing to a healthy circular economy.

In accordance with the Central Pollution Control Board, India produces 1.71 million metric tons of e-waste, when compared the e-waste generation across the world of 59.40 million metric tons. A popular study by ASSOCHAM and KPMG reveals that computer equipment interprets for nearly 70 percent of e-waste in India, which is next to the telecom & phone – 12 percent, electrical equipment – 8 percent and medical equipment – 7 percent.