The E-Waste Column no. 58

Sep 6, 2023
2 min read

This week, we will be looking at a few notable startups and scaleups 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 Back Market’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.

💡 You can read about more startups and scaleups in the refurbished tech sector in an extra column that will be published tomorrow.