Overcart raises USD 3 mn from JSW Ventures, Omidyar, others

Overcart, a startup providing returns management and liquidation services to e-commerce firms has raised USD 3 million (about Rs 20 crore) from JSW Ventures, Omidyar Network, Sattva Capital and Venture Works. The funding will be utilized to invest in hardware and software innovations to diagnose, refurbish and quality check products across more categories and locations.

Founded by Saptarshi Nath and Alex Souter Overcart is focused on building a new-to- world back-end and adding innovative services. The team has managed to scale the business on positive economics while pushing the bar in operational & technological innovations. It recently expanded into Mumbai and added consumer electronics to its product portfolio. Overcart also launched its own warranty brand – Overtrust — that provides walk-in product repair services in 55 cities across India.

The company’s philosophy of putting quality first brings much needed transparency to an otherwise opaque ‘buyer beware’ market, while tapping into the massive demand for unboxed and refurbished goods.

Coverage link:

India Infoline – http://www.indiainfoline.com/article/news-top- story/overcart-raises- 3-mn- series-a-funding-116070800377_1.html

MoneyControl – http://www.moneycontrol.com/news/sme/overcart-raises-usd-3-mnjsw-ventures-omidyar-others_7003301.html

Business Standard – http://wap.business-standard.com/article/pti-stories/overcart-raises-usd-3-mn-from-jsw-ventures-omidyar-others-116070800637_1.html

BWDisrupt – http://bwdisrupt.businessworld.in/article/Deals-RoundUp-Crofarm-FlexiLoans-Overcart-JSW-Ventures-Omidyar-Network-Sattva-Capital-Venture-Works-and-Paytm/09-07-2016-100210/

CIOL – http://www.ciol.com/funding-roundup-oyo-pitstop-quickli-technologies-and-more/

Finsmes – http://www.finsmes.com/2016/07/overcart-raises-3m-in-series-a-funding.html

Inc42 – https://inc42.com/flash-feed/overcart-raises-3-mn-series-funding/

Livemint – http://www.livemint.com/Companies/l7JC7d4R5StgDKuLeCJyzN/Overcart-raises-Series-A-funding-from-GrowthStory-others.html

TheTechPortal – http://thetechportal.com/2016/07/09/overcart/

Yourstory – http://yourstory.com/2016/07/overcart/