Undo World Pvr Ltd, which operates renewed smartphone startup ControlZ, on Monday said it has acquired Overcart for an undisclosed sum.
Overcart is an marketplace for overstock, unboxed, reconditioned, and preowned merchandise
The acquisition is aligned with ControlZ’s growth strategy in the renewed smartphone market in India, the company said in a statement. With this acquisition, ControlZ looks to expand its business outreach through the extended supply chain and liquidation services, it added.
"We are a smartphone renew specialist, long-term expansion of this business would require strategists support in terms of supply chain and liquidation of inventory, said Yug Bhatia, Founder and CEO, ControlZ.
"This acquisition will help us to leverage technology capabilities that Overcart has built around to address the industry’s challenges,“ added Bhatia.
Founded in 2012 by Alex Souter and Saptarshi Nath, two colleagues from the consulting firm CEB, Overcart provides return management and liquidation services to major e-commerce companies, manufacturers, and retailers. Post the acquisition, Overcart will operate as an autonomous entity.