Carrier-focused cell phone recycling company raises $105M from VCs

Posted on Updated on

Gigaom

A company that makes cell phone recycling and trade-in programs for carriers — eRecycling Group — has raised a $105 million Series C round from investors, led by Kleiner Perkins Caufield & Byers and including new investor Silver Lake Kraftwerk. There are a lot of companies looking to build businesses around getting consumers to trade in their older cell phones and electronics (Gazelle, ecoATM), but eRecycling Group is uniquely focused on developing services that carriers can use and profit from.

Silver Lake Kraftwerk — the private equity arm’s energy-focused fund — joined the round as a new investor. Kraftwerk Partner Raj Atluru, formerly of DFJ, has long said that he sees a major opportunity in waste and resource management. Kleiner Perkins has also long supported the recycling space and also has invested in Recyclebank, which helps brands connect with consumers around recycling.

In just the U.S., recycling…

View original post 117 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s