Reboxed secures £705k in seed funding led by Ministry Of Sound to expand its tech recycling platform.
The seed round was led by Ministry Of Sound alongside angel investors to support the launch of new recycling services.
reboxed operates a sustainable recommerce platform focused on buying and selling refurbished technology. The firm aims to reduce electronic waste by rehoming millions of used mobile devices.
Reboxed has secured £705k in a seed funding round led by Ministry Of Sound and angel investors, bringing its total funding past £1m. The capital will be directed towards launching a new recycling service and expanding the team, supporting the firm's goal to rehome 100 million devices by 2030.
The London-based recommerce enterprise provides consumers and businesses with sustainable alternatives for upgrading technology. Its TechCheck software enables customers to trade in used devices for cash or environmental contributions, combating the rising issue of electronic waste.
Investor perspective
"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."
Lohan Presencer
Chairman, Ministry Of Sound
Use of funds
- 01Continue product development
- 02Grow the team