Qamatek, a refurbished and renewed electronics category player, announced that it had raised $3 million in a funding round led by Gujarat Venture Finance Limited (GVFL) and Caspian Debt.

In the preliminary stage, the funds will be utilised towards expanding and digitising operational capabilities, to scale across critical domestic markets and to foray into B2C operations with MOBEX, a brand by Qarmatek.

MOBEX has an expansive network currently of around 4000 smartphone retailers in Gujarat to alleviate their day-to-day operations of sales via E-commerce platforms & offline channels. This network will be scaled up into significant cities and reach more than 1 lakh partners within the next couple of years.