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This startup was founded by 8 Techy School-going minds and raised funding of 50,000 by Chaayos and Boston Group. This startup idea was boosted by Business Blasters and It deals in selling refurbished mobiles and mobile phone accessories at a very affordable price. Read this story to know how they raised funding of 50,000.
Mobisite is the perfect example of the powerful techy group going to build a unicorn in India, This startup idea is powered by Delhi Govt’s program of “Business Blasters. The startup is led by Sukh Sagar who is the team leader and co-founder of Mobisite. This is the 3rd startup story that is going to be featured on Under20s and if you want to read the previous two then you can click here to read both of them
- Hebi Naturals – Startup founded by this Trio raised 60K as Funding from Paytm and Urban Company.
- Divine Creations- Talented duo startup raised 50k ad Funding from PayTm and Urban Company.
You can have a glimpse of the table of contents to have a better understanding of this startup story.
How Mobisite Started?
This startup was founded by 8 Tech oriented school-going minds. By school going I mean they are teenagers, All of them are 16-17 years old., this clearly states that age is not a barrier in planning and executing big plans.
When the Delhi government asked students to submit their Business ideas the team leader, Sukh Sagar started learning how to repair mobiles and He went from one shop to another to learn Mobile repairing then He pitched the same idea to his schoolmates.
Their team needed old Mobiles to start. They convinced their neighbors to give them old and non-functional mobile phones in exchange for Money.
What is the aim of Mobisite?
This was a cool beginning of this startup. Their main aim was to save the environment and to provide cost-friendly mobiles to students. They reused old mobiles which were dead and made them alive. Then they sell the same to students at a very low cost.
Team said that “It was very difficult for students during the pandemic lockdown to attend online classes as many of them were unable to afford brand new mobiles and lapstops, keeping this view in mind and to make sure that study does not suffer due to financial reasons we started this business.”
Who is the Team of Mobisite?
To make the idea of Mobisite a real seed-funded startup was impossible without this wonderful team continue Reading the next paragraphs to know the team in a better view.
Sukh Sagar
Sukh is the team leader. He is responsible for repairing mobiles and Team Management.
Ishika Negi
Ishika Negi is a co-founder. She is responsible for Data Inteperataion, Marketing Tasks, maintaining the App, and Website Management.
Amrita Mishra
Amrita is the co-founder. She holds the responsibility of Mobisite’s brand Development in which She takes care of Promotions and Advertisements.
Sanya
Sanya is also a co-founder and a core team member. She has a position of responsibility for Content designing and Account management.
Seed Funding was received by Mobisite from Delhi Government
Delhi Government gave seed funding to nearly 3.5 Lakh students in 1000 schools of Delhi Govt Schools. Seed funding was received by Mobisite to 8 team members and with this seed fund, They have sold nearly 12 Phones after repairing them and made a great profit from it though. This startup made a profit of 24000 and the revenue of 32000 from initial seed funding only.
How does Mobisite buy and sell these Mobiles?
On talking to Sukh Sagar ( Team Leader),
he told us “We purchase mobiles from our friends and neighbours. We have a great friend circle and we offer them a better price which they get from street vendors who buy mobiles so that they buy mobiles at low cost and also benefit the person from whom they buy.”
When it comes to buying they have to be sure about the condition of mobiles as If it will work or not after repairing and To avoid losses they buy only mobiles which make them assure of work whereas they purchase these mobiles ranging between 300-500
Sukh sagar told us ” When we buy mobile for 400INR then we have to invest 1000-1200INR in repairing the device and to pass through multiple quailtity checks. After the refurbishing process we will sell this mobile for 2500INR at a profit margin of 1000inr which will cover our basic expanses.
How will Mobisite scale its startup?
When this question was asked to Sukh Sagar and the team by Deputy CM Manish Sisodia and Investors then they replied with this.
” We have made our Mobile app and website in such consumer friendly way in which he can self assess his mobile by passing through some quality checks which will provide him an estimate price for his device. He can sell his phone by installing our app or website”
Ishika Negi
Investors vs Mobisite | 1:1 Answers with Team Mobisite and Chaayos / Boston Co-founders.
Welcome to the most joyful segment of the article. Here you will know who are the investors and how much they have invested in this startup?
Who are the investors of Mobisite?
Nitin Saluja
He is a graduate of IIT and an ex-New York Analyst. Nitin Saluja is the co-founder of Chaayos and He is also an angel investor in this newly launched startup.
Seema Bansal
She is Asia Pacific Head of Boston Group and graduate from IIM Kolkata- MBA. Seema has invested in this startup as an angel investor.
How much money did Mobisite Demand from Investors?
The team of this Startup demanded a sum of ₹90,000 from investors to run their startup for next year and They also gave a brief for the funding they needed. You can see that brief here.
- Cost Price for 200 Mobiles- ₹60000
- Equipment for repairing- ₹15000
- Advertisements and Promo- ₹25000
- App and web development- ₹15000
- Delivery charges- ₹5000
When we make a total of this it comes to ₹1,20,000 and the same point was made by investors too.
Yaha ganit Sahi nahi hai aapka which means your maths is not correct”
Nitn Saluja ( CoFounder- Chaayos)
How much funding did Mobisite raise from Investors?
After doing maths of the above funding required, Investors asked team members that “How much minimum capital you will require if you don’t get ₹90,000?”.
The team of Mobisite replied with 5 figure answer which is ₹50,000. They have reduced the number of mobiles and they will shift their promotion and advertisements over online services like FB Ads and Google Adwords.
- Mobisite received ₹25000+ Mentorship from Seema Bansal who is the Asia Pacific Head of the Boston group.
- Mobisite received a ₹25000+ Internship offer from Chaayos Co-Founder Mr. Nitin Saluja.
In total, they have been granted funding of ₹50,000 from Chaayos and Boston Group.
How you can order from Mobisite?
To order from Mobisite you can install their app from Playstore/AppStore, You can visit their website and if you want to order through their Instagram handle then you can reach by clicking here @Mobisite
Frequently Asked Questions
What is Mobisite?
Mobisite is a startup founded by 8 Techy School-going minds and raised funding of 50,000 by Chaayos and Boston Group. This startup idea was boosted by Business Blasters and It deals in selling refurbished mobiles and mobile phone accessories at a very affordable price.
What is the Aim of Mobisite?
This was a cool beginning of startup Mobisite. The main of Mobisite was to save the environment and to provide cost-friendly mobiles to students. They reused old mobiles which were dead and made them alive. Then they sell the same to students at a very low cost.
How much funding did Mobisite raise?
Mobisite received ₹25000+ Mentorship from Seema Bansal who is the Asia Pacific Head of the Boston group.
Mobisite received a ₹25000+ Internship offer from Chaayos Co-Founder Mr. Nitin Saluja.
In total, they have been granted funding of ₹50,000 from Chaayos and Boston Group.
Who are investors of Mobisite?
Nitin Saluja – is an angel investor in Mobisite and He is also a graduate of IIT and an ex-New York Analyst. Nitin Saluja is the co-founder of Chaayos
Seema Bansal -She is Asia Pacific Head of Boston Group and graduates from IIM Kolkata- MBA. Seema has invested in Mobisite as an angel investor.
How much seed fund did Mobisite raise?
Delhi Government gave seed funding to nearly 3.5 Lakh students in 1000 schools of Delhi Govt Schools. Seed funding was received by Mobisite to 8 team members and with this seed fund, They have sold nearly 12 Phones after repairing them and made a great profit from it though. Mobisite made a profit of 24000 and the revenue of 32000 from initial seed funding only.
