Vienna-based marketplace for refurbished electronics, Refurbed has closed a $57 million Series C funding round.
The Viennese startup is taking on the significant environmental impact of the electronics industry, and aiming to put more usable tech back out into the hands of those that can use it best.
As to be expected at Series C, the investment capital is aimed at furthering growth and expanding market awareness.
€1 billion GMV
Operating in Italy, Sweden, Denmark, Ireland, the Netherlands, as well as Germany and Austria, Refurbed achieved the significant milestone of having sold over €1 billion in merchandise in June of this year and has achieved profitability in its home and near-home markets of Austria and Germany in 2022, a feat ahead of schedule.
Digging deeper into the numbers, while utilising refurbished tech equipment goes beyond just making simple sense, there’s a bigger sustainability play in action as well.
Sustainability is key
Conducted in collaboration with German research organisation Fraunhofer, Refurbed says that over the past six and a half years of its operation, 160 tonnes of CO2e were saved from releasing into the atmospher, 34 billion litres of water were not used in the production of new tech, and 495 tonnes of e-waste was kept out of landfills and similar.
On the efforts of Refurbed, company co-founder Kilian Kaminski commented:
“We are incredibly proud of our exceptional team, a mix of talent nurtured from within and experts we've brought in. Their dedication and passion have powered our remarkable journey, turning our dreams into reality.
“Equally, the network of, and close relationships with, our professional partners across Europe is crucial to supply high-quality, desirable products of multiple product categories.”
Refurbed's Series C funding round was led by Evli Growth Partners and C4 Group, with participation from All Iron Venture and Speedinvest.
Lead image: Refurbed founders Peter Windischhofer, Kilian Kaminski, and Jürgen Riedl (left to right). Photo: Uncredited.