Consumer electronics is one of the world’s most polluting industries generating around 50 million tonnes of e-waste every year. Around millions of mobile phones goes to waste every year, eventually ending up in a landfill. And every single one of those devices has taken precious earthly materials to create, at a cost to the environment and local communities.
Founded by Matt Thorne and Phil Kemish, London-based Reboxed aims to transform the way we buy and sell used technology, creating a smarter and more sustainable choice for consumers to upgrade and trade their tech while saving money and the planet.
In the latest development, the refurbished and pre-owned tech brand reboxed has secured £1M in funding, including a new seed investment round led by the Ministry Of Sound and angel investors totaling £705k.
Lohan Presencer, Chairman of Ministry of Sound said “Almost everyone in the world has a phone. They break and get replaced with the latest models, creating mountains of e-waste as a result. Reboxed is on a mission to recycle tech waste constructively, one that we wholeheartedly support. We are excited to share their story with our customers and support the business as it grows to the next level.”
How will the funding be used?
The funding will be used to support the launch of the reboxed recycling service allowing customers and retailers to trade in used devices via the reboxed TechCheck software.
Further, the company will utilise the investment to help in their mission to rehome 100 million devices, grow the team and introduce the brand to millions of more people leveraging partnerships with content creators, including collaborations with tech enthusiasts like an investor and YouTube star Ali-A.
“I am actively looking to invest in startups that I feel can have a positive impact in areas both I and my audience are interested in. One of these interests is technology, that’s also trying to be environmentally aware, so it was a no-brainer when the opportunity came up with Reboxed. I love that these devices are being fixed up and rehomed at an affordable price, whilst reducing the amount of tech waste. I am excited to work with Reboxed to change the way we think about old or damaged and create a positive shift in the tech industry.” says Ali-A
Against throwaway culture
The UK company refurbishes and reboxes used devices into premium phones. The company follows its circular model – rebox, rehome, repeat, thereby making a positive impact on the environment and society.
reboxed wants to mobilise people against throwaway culture, which has a hidden dark side of harmful emissions, toxic waste, and a planet plundered of resources.
For every device bought or sold, reboxed plants 5 trees with Ecologi and donates 1% of profits to climate change projects.
Phil Kemish, reboxed co-founder and CEO, said: “This investment is an exciting step to help us expand the brand and partner with more retailers to transform the pre-owned and refurbished experience. This investment shows the confidence in what we’ve built so far and we’ll continue on our mission to deliver an exciting and exceptional upgrade for all our customers and the second-hand tech industry. ”
Co-founder Matt Thorne says “Prolonging the life cycle of any device is at the heart of everything we do, so by getting more people and businesses to use our industry-leading software and trying our quality pre-owned products means we can give more tech a fresh start. We are committed to creating a circular economy for used tech and shifting people away from buying new to reboxed means we can save money and the planet while still offering value, quality, and convenience.”