Servify shoots for unicorn tag with $100 million fundraise

The startup was valued at about $850 million when it raised $65 million in 2022 as part of its Series D funding round

- Sneha Shah

Smartphone care and warranty provider Servify is in early talks with venture capital and private equity firms to raise $100 million, before it joins the swelling crowd of startups rushing to the public markets.

The Mumbai-based startup is eyeing the fundraise at a potential valuation of $1 billion, as it prepares for an initial public offering of shares in 24 months, said two people with knowledge of the development, requesting not to be identified.

Servify has mandated Kotak Investment Bank for the fundraise, one of them said, adding that the startup, which already has a significant overseas presence, will likely use the fresh capital to expand to new markets.