Overcart, a company that provides returns management and liquidation services to major e-commerce companies, manufacturers, and retailers has raised its Series A round of funding. The company operates Overcart.com – a marketplace for unboxed, refurbished, preowned, and excess stock across all electronic categories.
The company 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 raise of 3 million USD comes from Omidyar Network, JSW Ventures, as well as Sattva Capital & Keshav Sanghi-led Venture Works. The company, which is using both software & hardware innovations to power its operations across Delhi NCR, Bangalore, and Mumbai will be using the capital to further expand its operational efficiency and reach
Badri Pillapakkam from Omidyar Network and Gaurav Sachdeva from JSW Ventures will join the Board of Directors, while Samir Shah from Sattva Capital will become a board observer. Overcart had previously raised funds from K Ganesh’s Growthstory, The Phoenix Fund, Snow Leopard Ventures, and GSF Superangels among others.