ecoATM Gazelle Raises an Additional Round of $50M Investment to Drive Smartphone Access and Sustainability
San Diego, CA, March 21, 2023
SAN DIEGO, DATE /PRNewswire/ — Global smartphone and mobile device re-commerce leader ecoATM Gazelle ("ecoATM" or the "Company") has raised an additional $50 million of new growth equity from existing investors to accelerate the company’s growth by creating a best-in-class user experience, building a robust tech platform, and helping expand enterprise partnerships in order to meet fast-growing demand for the purchase and re-sale of pre-owned smartphones.
“We’ve just begun to scratch the surface of the re-commerce economy," said Stan Pavlovsky, CEO of ecoATM. “With the confidence of our investment partners behind us, we are excited for the opportunity to position ourselves as the first choice when it comes to trading-in high quality used smartphones and bringing affordable smartphone access to consumers, all while making a meaningful impact in reducing harmful e-waste.”
The investment will be used to:
- Create a holistic omni-channel user experience to drive new consumers reach by integrating our existing physical footprint and digital presence technologies
- Expand enterprise and sales partnerships through leveraging patented and proprietary technology including new features and services
- Build new technologies and capabilities to develop industry standard in grading practices and pricing
In January 2023, ecoATM reached 38 million smartphone and mobile device re-commerce units, indicative of the growing and critical demand for technology recycling. To learn more about ecoATM's business model and how you can safely recycle your electronic device, visit: ecoatm.com.
SOURCE ecoATM Gazelle