The post-sales support company Servify, which is based in Mumbai, has raised Rs 46.5 crore ($5.7 million) in a new tranche of a Series D fundraising round. Leading the investment, which included a combination of finance and equity, were Trifecta Venture and CE Ventures (Crescent Enterprises Venture Capital).

A special resolution was passed by the board of directors at Servify to issue, offer, and allot 300 Series D1 non-convertible debentures (NCDs) and 67,875 Series D2 compulsorily convertible preference shares (CCPS) for a total consideration of Rs 46.5 crore ($5.7 million).

Servify, a company founded in 2015 by Sreevathsa Prabhakar, provides brand-approved after-sales service for mobile phones, accessories, electronics, and home appliances. Through its product lifecycle management platform, the platform unites many OEM (original equipment manufacturer) brands and their sales and service ecosystem. Customers can add their household electronic devices to the Servify platform, keep track of their payments, and get genuine, brand-authorized service during or after the warranty term.

The startup, it is present in 40 nations, including those in Asia, North America, Europe, the Middle East, and Turkey. More than 50,000 retailers distribute products for the startup. The startup stated in August 2022 that it was approaching profitability and clocking an annual revenue rate of more than Rs 1,000 crore.

With this latest round of money added, Servify has now received over $120 million in funding. Currently, the startup is worth between $680 and $700 million. The Mumbai-based post-sales service company bought the AI-powered interaction platform Jubi.ai earlier this year. Onesitego, Syska Gadget Secure, OneAssist, and ZurePro are the company's main rivals.