A Sibling-Led Startup Transforming India’s Refurbished Appliances Market
Established in 2022 by siblings Ashlin and Sachit Bansal, Costify is a New Delhi-based startup that is making significant strides in formalising India’s largely unregulated refurbished home appliances sector. In a remarkably short time, the company has served over 8,000 customers across the Delhi-NCR region and is currently generating an annual revenue exceeding Rs 4 crore. Costify stands out with its clear mission: to provide quality-checked, professionally refurbished, and warranty-backed home appliances at affordable prices. Its diverse product range includes refrigerators, washing machines, air conditioners, microwaves, heaters, and air purifiers, specifically targeting middle-income households that desire reliability without the hefty price tag of new appliances. By prioritising customer satisfaction, the startup has garnered a commendable 4.5-star rating on Google, showcasing the growing trust consumers have in its offerings.
The Inspiration Behind Costify
The inception of Costify is deeply intertwined with the personal journeys of its founders and their family’s long-standing connection to entrepreneurship. Ashlin and Sachit
Bansal grew up observing their father, Rajesh Bansal, navigate various business challenges over the years. His natural stone export business faced severe setbacks during the 2008 global financial crisis, followed by hurdles in real estate due to demonetisation and RERA reforms. Later, a restaurant venture along a highway was disrupted by the COVID-19 pandemic. During his subsequent engagements with quick commerce platforms like Blinkit, Zepto, and Swiggy, he acquired numerous commercial refrigerators from dark store transitions. This experience opened the family’s eyes to the vast scale of unused and discarded appliances in India. Coupled with the founders’ own experiences of taking on odd jobs while studying abroad, the vision of creating a business centred on resilience, repair, and second chances began to crystallise, ultimately leading to the birth of Costify India.
Addressing Trust, Affordability, and E-Waste Issues
Costify tackles several enduring challenges in India’s refurbished white goods market, which is estimated to be worth nearly USD 25 billion. Traditionally, refurbished appliances have been sold through informal shops and warehouses, often linked to inconsistent quality, limited accountability, and a lack of after-sales support. Costify seeks to alter this perception by implementing a structured, transparent, and standardised refurbishment process. Each appliance undergoes a rigorous multi-stage diagnostic process, genuine spare part replacements, and thorough quality checks, all backed by proper documentation and a formal warranty. This approach successfully closes the gap between costly new appliances and unreliable second-hand products, with Costify’s offerings priced 50–70 per cent lower than their new counterparts. Additionally, by prolonging the useful life of appliances by five to seven years, the startup plays a vital role in mitigating India’s escalating e-waste problem, which currently amounts to approximately 1.7 million tonnes annually.
Growth Strategy, Funding, and Future Plans
To facilitate growth and maintain operational consistency, Costify has developed an AI assisted refurbishment and technician training programme that transforms fresh ITI graduates into skilled, process-oriented technicians within 8 to 12 weeks. The startup is experiencing increasing demand from both B2C and B2B sectors, with strong repeat usage and heightened interest from enterprises. Currently, it is in advanced discussions with prominent consumer appliance brands such as Havells and Lloyd regarding circular economy initiatives that involve returns, seconds, and warranty stock. While several venture capital firms have expressed interest, Costify has opted to secure an undisclosed angel round from industry operators and believers, supported by seasoned
advisors from technology, turnaround consulting, and consumer electronics sectors. Looking ahead, the founders intend to introduce one-year warranties, strengthen OEM partnerships, expand beyond NCR into Tier-2 cities, and gradually establish a pan-India platform centred on trust, reliability, and sustainable consumption.uccess in the global spacetech arena.
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