In the recent past, many entrepreneurs are coming up with a concept focused on sustainability, zero-waste, and more to tackle the threat posed by global warming.
Raised £350k funding
In the latest development, a refurbished and pre-owned tech brand raised £350k in pre-seed funding from angel investors, bringing the total amount to £500k.
Angels include former Dyson CEO Martin McCourt, Mazuma Mobile co-founder Charlo Carabott, and ustwo Co-Founder Matt ‘Mills’ Miller.
Martin McCourt said: “There is undoubtedly growing interest amongst phone owners in exchanging their used handset for a replacement that is also used but in great condition. The challenge would-be ‘swappers’ have is the hassle they face in executing the transaction, and the chance that they will receive a poor trade-in deal and maybe a substandard product. Reboxed changes all of that with a fresh, easy to use platform that offers swappers a great deal and a fab service, second to none”
Charlo Carabott joins Reboxed board, bringing a wealth of experience to the role, having previously co-founded and managed the UK’s leading mobile recycling website Mazuma, which he led until its acquisition by EcoRenew in 2018.
Carabott said: “Although device recycling services are well established in the UK, more than half of UK consumers still don’t recycle their old devices. I am extremely excited to join reboxed who I believe will offer a proposition and service that will attract a whole new segment of the market and better serve those who already recycle.”
The funding will be used to support the launch of the UK’s first on-demand buyback process which uses reboxed’s ‘TechCheck’.
Notably, it is a diagnostic service that guarantees the phones for buyers and offers a 15-month free warranty to help shoppers feel secure in purchasing pre-loved items.
10 trees for every device bought or sold
Launched in September 2020, the UK startup is on a mission to rehome 100 million mobile devices by 2030 to tackle electronic waste, the world’s fastest-growing waste stream.
Phil Kemish, reboxed co-founder and CEO, said: “I’m happy to announce this investment and excited by the opportunity to transform the pre-owned and refurbished experience, which suffers from poor satisfaction and inconvenience, and is failing the needs of today’s on-demand consumers. Shifting people away from the expense of new and upgrading to reboxed means we can save money and the planet while still offering value, quality, and ease.”
For every device bought or sold, reboxed plants 10 trees with Ecologi and donates 1% of profits to climate change projects. The company is on a mission to mobilise people against throwaway culture, which has a hidden dark side of harmful emissions, toxic waste, and a planet plundered of resources.