Below are a few notable startups and scaleups active in the refurbished electronics sector:
♻️ Back Market
Founded in 2014, the Paris-based Back Market provides its customers with access to electronic devices that are refurbished by third-party sellers and external refurbishers. The products are listed by the partners on BackMarket’s central online platform, with the aim of “reaching a wider customer base and increasing sales”. Customers are given a 30-day money-back guarantee. The scaleup has raised over $1B in funding to date. It currently operates in 16 countries.
♻️ Circular Technologies
Founded in 2020 in the Italian Ligurian Region, Circular Technologies is currently working on “developing a digital marketplace where organisations can sell their used equipment, and buy or lease refurbished IT products”. The startup will provide an environmental impact calculation for each transaction on its marketplace, so that businesses can track their carbon footprint.
♻️ Grover
Founded in 2015, the Berlin-based Grover allows consumers and businesses to rent technology on a monthly basis and offers 90% coverage for the cost of damage while in use. Subscribers can select from over 3000 products and decide on their subscription length. More specifically, once the original subscription period ends, users can choose to buy the device, return it, or continue to lease it on a month-to-month basis. Returned devices are refurbished and recirculated until their end of life. Thereafter, the devices’ materials are reused or recycled. The scaleup claims that the rental model it employs encourages users to use devices for a longer time and allows for them to circulate freely, in place of being stored at home unused for long periods. The scaleup has raised over $2.3B in funding to date. It currently operates in Germany, Austria, the Netherlands, Spain, and the US.
♻️ myhalo
Set up in 2015, the Singapore-based myhalo provides a platform, which consumers and corporations can use “to upcycle, trade-in, repair, and extend the lives of personal computers and mobile devices”. The platform can also be used to purchase refurbished devices and donate old equipment. Its AI-backed “Quote & Go” system allows consumers to assess the value of their digital devices and guarantees a trade-in price.
♻️ Reebelo
Founded in 2019, the Singapore-based Reebelo runs a marketplace for pre-owned devices. The company offers its customers 1-year warranties and 30-day free returns. Reebelo also has a buyback program and allows customers to upgrade their devices. Customers can also purchase an additional two-year warranty for accidental damage, together with screen and battery swaps. The scaleup has raised $50.3M in funding to date. It currently operates in Singapore, Australia, New Zealand, Malaysia, Hong Kong, South Korea, and the US and it has over 21 000 customers.
♻️ Refurbed
Founded in 2017, the Vienna-based Refurbed runs an online marketplace for selling refurbished electronics. The scaleup refurbishes devices and sells them at about 40% below the price of a brand-new counterpart. Customers are given a 30-day trial period and a 12-month warranty. The scaleup states that buying a refurbished device from them can reduce carbon emissions by up to 70%. To offset the remaining 30%, it plants a tree per device purchased. The scaleup has raised $73.2M in funding to date. Refurbed operates on nine European markets and it has sold its devices to over 815 000 customers.
♻️ Swappie
Founded in 2016, the Finnish scaleup Swappie focuses on selling affordable refurbished iPhones through its online platform. The scaleup tests and refurbishes devices in its European factories, and then prices them according to their condition. The scaleup has raised $169.4M in funding to date. The company currently operates in 15 European countries (incl. Germany, Austria, Ireland, France, Italy, and Poland) and it plans to expand to three further countries in the near future.
♻️ Valyuu
Founded in 2021, the Dutch startup Valyuu runs a circular economy marketplace, which enables consumers to sell, purchase, and donate their used electronics. To make the transactions easy and transparent, the platform uses a “product passport” that includes photos, detailed information on the device condition, and access to testing reports. Using “matching and pricing algorithms”, the marketplace aims to ensure that “[e]very product is recirculated among consumers, refurbishers and recyclers”. The startup recently announced that it had raised €2.4M in a seed funding round. It has now raised a total of €3.1M to date. Using its most recent funding, it plans to develop its platform further, increase brand awareness in the Benelux region, and to expand internationally.
Read more about the startups and scaleups here:
- Back Market, Refurbed, and Swappie: https://www.jumpstartmag.com/revolutionizing-electronics-top-startups-lead-the-way-in-refurbished-tech/
- Circular Technologies: https://www.positive.news/society/circular-economy-class-of-2023-meet-the-fresh-crop-of-waste-busting-startups/; https://www.circulartech.world/
- Grover: https://siliconcanals.com/crowdfunding/grover-secures-1b/
- myhalo: https://www.asiaone.com/business/myhalo-envisioning-world-zero-e-waste
- Reebelo: https://techcrunch.com/2023/03/20/consumer-electronics-reseller-reebelo-series-a/; https://retailwire.com/discussion/refurbished-electronics-platform-reebelo-sets-up-shop-in-the-u-s/
- Valyuu: https://www.eu-startups.com/2023/08/rotterdam-based-circular-platform-valyuu-raises-e2-4-million-to-give-a-new-life-to-the-growing-e-waste-pile/; https://tech.eu/2023/08/29/valyuu-raises-eur24m-to-fight-electronic-waste-with-circular-economy-marketplace/