Bengaluru: Bengaluru based startup Blubirch, India’s leading IT/Reverse logistic  service provider secures angel funding amount of $2 Million from Chicago Capital ventures, Sanjay Mehta, Angel and PE Investor and others.

The company will use these funds to further expand their services in India and other countries and to strengthen its team to complement their capabilities. Blubirch is an independent end-to-end solution provider for electronics and IT reverse logistics.

Founded by Sapan Jain, Jeby Cherian, Amit Goel, and Jayathirtha P. Katti, Bengaluru-based Blubirch focuses on reverse logistics with a main focus on IT technology. It provides solution for IT asset management, remarketing and also deals with refurbished customer returns and excess. Since its inception in April 2014, the company has witnessed meteoric growth from its business and user base standpoint.

Speaking on the occcassion, Sapan Jain, CEO and Co-Founder, Blubirch said, “While technology is at the forefront of what we do at Blubirch, our main focus is to assist our clients manage their complete range of technology assets. The fund raised will be used to further enhance the technology platform and to expand the operation across 6 more cities.”

According to an estimate, the market size for reverse logistics is $20b and is growing at a phenomenal pace. In fact, the company has a network of 3000+ partner across the globe for redeployment and is already operating at a run rate of INR 100+ crore.

“We will continue focusing on bringing incremental value to our clients through our end to end reverse logistics solution and ensuring that we continue contributing to a clean digital India by extending the life of technology products and making these second life quality products affordable for companies and individuals,” Sapan adds.

Speaking on the occasion, Sanjay Mehta, Angel and PE Investor, said, “The sheer addressable market size makes Blubirch investment an attractive proposition. The execution team pedigree was the best in the industry & we saw exponential growth opportunities in multiple categories. Blubirch is set to become the defacto B2B exchange for ICT vendors.”

Blubirch plans to launch their consumer services and expects to reach 60 Crore revenue by early next year.