Flipkart Group said it has acquired electronics recommerce company Yaantra for an undisclosed sum. The acquisition will augment its existing refurbishment business in the smartphone category.

"Through the acquisition of Yaantra, we are enhancing our capabilities in a domain that is critical for the growth of the digital economy in India, as well as developing a comprehensive service ecosystem to support its expansion," said Ravi Iyer, Senior Vice President and Head, Corporate Development, Flipkart.

Yaantra founded in 2013 by Jayant Jha, Ankit Saraf and Anmol Gupta works on repairing and selling refurbished consumer tech products such as smartphones and laptops.

With the acquisition of Yaantra, Flipkart announces that it will enable greater access to affordable refurbished smartphones, offering value and convenience for the end consumers.