London-based sustainable tech startup Reboxed has successfully raised £1.6 million in seed funding, led by ACF Investors, known for their investments in OneID and Wayland Additive. The B-Corp certified company, founded in 2020 during the Covid lockdown by Phil Kemish and Matt Thorne, aims to combat the growing e-waste crisis.
Reboxed’s mission is to rehome 100 million electronic devices by 2030, addressing the environmental impact of technology consumption, which generates over 50 million tonnes of e-waste annually. Each new electronic device contributes to an average carbon footprint equivalent to 79kg of CO2. In response to the increasing awareness of environmental issues, consumers and retailers are turning to re-commerce solutions to reduce CO2 emissions. In the UK alone, 22 million people are considering purchasing a refurbished phone.
The startup has positioned itself as a solution provider, offering retailers and businesses a platform to embrace a circular economy. Backed by notable figures such as YouTuber Ali-A, ex-founders of Mazuma and Envirophone, Martin McCourt (ex-CEO of Dyson), Nick Beighton (ex-CEO of ASOS), and the Ministry Of Sound group, Reboxed provides out-of-the-box solutions for businesses to transition toward more sustainable practices.
Reboxed’s re-commerce platform connects businesses and consumers, offering premium refurbished and pre-owned devices, including phones, laptops, tablets, and smartwatches. The company focuses on delivering quality, consistency, and a genuinely circular approach to technology sales.
The recently secured funding will be utilized to drive growth, enhance retail partner programs, and further develop Reboxed for business services. The startup has experienced rapid growth by assisting clients in the telecom sector, such as Three Mobile, in launching refurbished technology offerings to customers without the need for significant infrastructure investments.
Phil Kemish, Co-founder and CEO of Reboxed, emphasized the company’s commitment to providing high-quality, affordable tech with a flexible, hassle-free experience. The funds from the latest investment round will be dedicated to expanding the team, building out the technology stack, and scaling the brand.
Tim Mills, Managing Partner at ACF Investors, acknowledged the shift in retail dynamics toward sustainability and responsible consumption. Recommerce, according to Mills, is growing 11 times faster than traditional retail. ACF Investors is optimistic about backing Reboxed, as it aims to provide UK consumers with premium “like new” products while maintaining the benefits of re-commerce.