Company Overview

Update
Founded:
2012
Founders:
Arthur Arevshatyan
Employees:
11
Headquarters:
New York City, NY
Funding:
$200k
Categories:
Customer Service, Consumer Electronics
Description:
CrossWorld Warranty is a platform for manufacturers and retail consumers to handle their warranty records online.

Detailed Description

Update

A prototype is ready as of April 8th 2014.

СrossWorld Warranty (incorporated in Delaware, the US) in one sentence is “one universal worldwide warranty card for any warrantied products you ever buy”. CWW will provide manufacturers of any warrantied consumer goods with an outsourced automated warranty registration and administration services.

CrossWorld Warranty allows retail consumers to register a warranty on any product electronically for free; for manufacturers to centralize and outsource warranty registration and administration in a paperless process CrossWorld Warranty will unlock potential of significant cost-savings for manufacturers of warrantied consumer goods and make consumer experience easier for people around the world.

CrossWorld Warranty offers its services to manufactures of any warrantied products.

Currently, CrossWorld Warranty is looking for investors/partners for development of the software system. Investment volume required for 2013 is USD 2 mln. A co-investor is required currently.

CrossWorld Warranty is a unique, and patented solution with a first mover advantage that’s creating an entirely new market of warranty registration and administration Worldwide patent search was completed by World Patent Bureau in Geneva in June 2013. A patent was received in Ukraine in June 2013; international patents pending worldwide. CrossWorld Warranty will facilitate purchases by automatization of warranty registration at retail stores and/or online and providing line of additional bonus services. Cooperation with CrossWorld Warranty will allow manufacturers to solve warranty registration and administration issues, radically cutting warranty registration, administration and claims expenses, obtaining immediate sales statistics and consumer profile information through online interface.

Volume of world sales of consumer electronics, the most warranted products sold (USD ~1 trln USD (3.7 bln units, 2012) is forecasted to grow at CAGR ~10% (in units) – making market of warranty registration in consumer electronics ~3.7 billion transactions. Other warrantied consumer segments include: DIY products, machinery of any kind, jewelry, clothes, medical devices.

The majority of manufacturers spend up from 0.5 to 2 USD per item for warranty registration, administration & handling, in some cases up to 10 USD / item.

Current Team (3)

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Funding Rounds (2) - $200k

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Offices/Locations (1)

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  • New York office

    224 W 35th Street Suite 710A New York

    New York City, NY NY 10001

    USA

News (2)

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    Images (2)

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    • D3969f443ac34561fb43a1b09fcbd3c9