Flipkart has acquired electronics recommerce company Yaantra as part of the strategy to enhance its existing refurbishment business in the smartphone category.
“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, as well as developing a comprehensive service ecosystem to support its expansion,” said Ravi Iyer, Senior Vice President and Head, Corporate Development, Flipkart.
Founded in 2013 by Jayant Jha, Ankit Saraf and Anmol Gupta, Yaantra repairs and sells refurbished consumer tech products such as smartphones and laptops.
The acquisition of Yaantra will assist Flipkart to enable access to affordable refurbished smartphones, offering value and convenience for the end consumers.
The Yaantra team will help Flipkart build capabilities in this domain and accelerate its recommerce scale-up plans.
The business will report to Prakash Sikaria, Senior Vice President and Head of Flipkart’s Growth Charter.
