Primebook, the Android laptop brand, secured $2 million from inflation point ventures. The round saw participation from Inflation Point Ventures, Auxano Capital, NexG Devices and EaseMyTrip’s CEO and Co-founders Rikant Pittie and Bhavesh Gupta.
The capital funds will be used for research and development along with production innovation. Additionally, it is planning to expand institutional sales networks and enhance the service infrastructure.
Chitranshu Mahant, CEO and Co-founder of Primeook, mentioned in a press release, this investment enables them to put more resources toward product development, scale their operations, and to reach millions of households in India. Appreciated for their proprietary blend of affordable innovation and advanced technology, Primebook is becoming the preferred brand for students, professionals and families.
Established by Mahant and Aman Verma in 2018, Primebook first introduced it to the market as ‘Made-in-India’, a cost-effective brand which is suitable for students, freelance workers and for all age groups. They have also launched PrimeOS, an Android OS for PCs, to make it more efficiently work on student needs.
It primarily focuses on students, specifically in tier 2, 3 and 4 cities, those who might not have access to traditional laptops. For the past two years, it has been claimed that the brand has earned 5 percent of the market share under the Rs. 20,000 laptop segment.
It is noted that the company sells more than 35k laptops through its own website and online selling platforms such as Amazon and Flipkart at the cost of around Rs. 11,000 to 16,000 accordingly.
