Search company, investor...
Search
HyperXchange company logo

The profile is currenly unclaimed by the seller. All information is provided by CB Insights.

hyperxchange.com

Stage

Other Investors | Alive

About HyperXchange

HyperXchange is a retailer of used and refurbished electronics.

HyperXchange Headquarters Location

4th Floor Sri Manjuri 1 Camac Street

Kolkata,

India

+91 8240706149

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest HyperXchange News

Cashify, HyperXchange look to expand to overseas markets

Aug 10, 2022

Photo Credit: 123RF.com Indian startups dealing in refurbished electronics are planning to foray overseas to sell used smartphones and capitalize on potential demand in those markets. Gurugram-based Cashify said it is exploring the Middle East, Southeast Asia, and some parts of Europe with plans to start overseas operations next year. Similarly, Kolkata-based HyperXchange said it is looking to begin operations in some of the markets in the Middle East and Africa as early as this year. “The Middle East is in our short-term plans. And we are in advanced discussions on a distribution partnership across Africa,” said Dipanjan Purkayastha, co-founder and chief executive, HyperXchange. “The Middle East will happen this year and so will South Africa,” he said adding that the former will be handled directly by the company while the latter will be in partnership with local firms. “We are doing a deep dive into markets that are similar to India and where we can potentially create some kind of impact,” said Nakul Kumar, co-founder, and chief marketing officer of Cashify. Kumar noted that the core population in the Middle East is primarily immigrants, which means “we can make a major impact there,” he added. “Africa is a way to mirror the Indian story in different geography. Dubai is relevant as the hub for global refurbished trade for products as well as spares,” said Purkayastha. The global refurbished smartphone market is growing at a quicker pace than the new phone market, which has been impacted even more by a slowdown in demand. According to an April report by Counterpoint Research, global refurbished smartphone volumes grew 15% in 2021 from the previous year while the new smartphone market grew by only 4.5%. “We are seeing a YoY (year-on-year) increase in volumes among refurb players in developing markets like China, India, Latin America, Southeast Asia, and Africa,” said Glen Cardoza, senior analyst at Counterpoint. In India, Cashify sold 300,000 refurbished smartphones from January 2021 till date. The company raised $90 million from NewQuest Capital Partners and Prosus in June, and is looking to expand the offline store footprint to 250 across 100 cities, from the current 120 stores. HyperXchange has 350 stores in India. Growth in India can help these brands in international expansion, said industry experts. “In a refurbished strategy, markets such as the Middle East and Europe could be very good seller markets while India can be a good feeder market. India now has a history of used phones,” said Faisal Kawoosa, founder and chief analyst at techARC. Expats in these countries have a higher aspirational value and refurbished units of premium smartphones may do well in that buyer segment, said Kawoosa. However, shipping refurbished phones from India to other markets may attract some customs duty. Though the quantum of customs duty is not clear, Purkayastha said duty on older phones is usually lower and varies across countries.

HyperXchange Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

HyperXchange Rank

  • Where is HyperXchange's headquarters?

    HyperXchange's headquarters is located at 4th Floor Sri Manjuri, Kolkata.

  • What is HyperXchange's latest funding round?

    HyperXchange's latest funding round is Other Investors.

  • Who are the investors of HyperXchange?

    Investors of HyperXchange include Microsoft and IIM Calcutta.

  • Who are HyperXchange's competitors?

    Competitors of HyperXchange include Cashify, Grover, Reebelo, Swappie, Yaantra and 11 more.

You May Also Like

Back Market Logo
Back Market

Back Market is a web platform for the sale of reconditioned electronic products, offering products such as refurbished smartphones, tablets, printers, computers, and household appliances.

Swappie Logo
Swappie

Swappie is a marketplace for buying and selling refurbished smartphones.

Reebelo Logo
Reebelo

Reebelo is an online marketplace dedicated to refurbished electronics.

Refurbed Logo
Refurbed

Refurbed is an online marketplace for refurbished electronics (selling renewed phones, laptops and tablets,) that are tested and renewed and are sold with a minimum 12-month warranty included.

Flipswap Logo
Flipswap

Flipswap exchanges consumers' and businesses' old cell phones for cash, credit at local wireless stores, or charitable donation. The company doesn't charge for shipping or any other fees. It gives every working phone a new life and recycles the rest.

Grover Logo
Grover

Grover offers an on-demand subscription alternative to gadget ownership. The company provides consumers and businesses with the option to consume the latest tech on a monthly rental basis with the advantage that they can switch or upgrade at any time, depending on their individual needs. Grover is an advocate of the Circular Economy, contributing to the reduction of technology underutilization and e-waste through product recirculation. It was founded in 2015 and is based in Berlin, Germany.

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.