Zodius Growth Fund has led a USD 19 million funding round in Mumbai-based Onsitego, which provides extended warranty and device protection services to consumer durables.
In its maiden deal from the new fund, Zodius has put in about USD 15 million in the startup. Accel India, an existing backer of Onsitego, has also participated in this latest financing round, with Accel US too joining the company’s cap table.
Founded by IIM-Bangalore alumnus Kunal Mahipal in 2010, Onsitego had previously raised USD 2 million in financing in 2015. The company will now use the proceeds to primarily expand its extended warranty product, to annual maintenance contracts and reach out to consumers directly.
Source: Economic Times
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