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Flipkart acquires Electronics recommerce platform Yaantra
January 14, 2022
Flipkart Group said it has acquired electronics re-commerce organization Yaantra for an undisclosed sum.
The acquisition, said Flipkart, will augment its existing refurbishment business in the smartphone category.
Ravi Iyer, Senior Vice President and Head, Corporate Development, Flipkart said, “Through the acquisition of Yaantra, we are enhancing our capabilities in a domain that is critical for the growth of the digital economy in India, just as developing a comprehensive service ecosystem to support its expansion.”
Established in 2013 by Jayant Jha, Ankit Saraf, and Anmol Gupta, Yaantra repairs and sells repaired customer tech products, for example, smartphones and workstations. The re-commerce market in India is developing at a rapid pace.
Nonetheless, the Indian smartphone refurbishment market is to a largely unorganized and fragmented, which has presented trust and accommodation issues for end consumers. With the securing of Yaantra, Flipkart said it will enable greater access to affordable refurbishment smartphones, offering value and convenience for the end consumers.
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