Servify parent secures Rs 66.27 Cr through Series D3 funding
Key investors in this round included BEE Accelerate Fund2 PTE Ltd, which took the largest share, along with Singularity Growth Opportunities Fund I and Singularity Equity Fund I.
Service Lee Technologies, parent company of Mumbai-based Servify, has secured Rs 66.27 crore in its latest funding round.
The company issued 227,170 Series D3 Compulsory Convertible Preference Shares, priced at Rs 2,917.05 each.
Compulsorily Convertible Preference Shares (CCPS) are a type of preference share that automatically converts into equity shares of a company after a predetermined period or upon the occurrence of specific events.
Key investors in this round included BEE Accelerate Fund2 PTE Ltd, which took the largest share, along with Singularity Growth Opportunities Fund I and Singularity Equity Fund I. The company’s overall valuation now stands at Rs 5,660 crore.
The money raised will be used to expand the business, improve technology, repay debt, and explore new acquisition opportunities, the company said. The board approved the funding on February 28, 2025, and the decision was confirmed during a special shareholders meeting on March 17, 2025.
Founded in 2015, Service Lee Technologies offers services that help brands manage product warranties and after-sales support. The company’s network of partners includes original equipment manufacturers (OEMs) and service providers across the industry.
The Series D3 shares will automatically convert into regular shares when the company goes public or at the end of the investment period (nearly 20 years). They also come with a small annual dividend of 0.01% and certain rights in the event of a company sale or liquidation.
Edited by Jyoti Narayan