It’s hard to imagine life without a smartphone or laptop. It may be harder to imagine just how many of these devices are discarded each year (some 5.5 million tons in 2022, according to a recent tally).
Circular economy startup Reuse operates a refurbished electronics marketplace that cuts down on electronics waste while offering savings for consumers. It also sells to businesses and partners with retailers on trade-ins. The startup generated $15 million in revenues last year.
Latam impact
The $4.5 million seed round was led by Seaya Cathay Latam, a joint venture of Spain’s Seaya and Cathay Inovation, along with Latam-focused investors Dalus Capital and IGNIA Partners, and climate tech investor Silence VC. The founders of Chilean retail delivery startup Cornershop also invested.
Reuse, which operates in Mexico, Chile and Peru, will use the funds to build on its presence in Mexico, which alrady makes up a large part of its refurbished electronics sales.
“We are excited about embarking on this journey alongside Tomás Ulloa and Max Sateler, supporting Reuse’s continual growth and impact in Latam,” wrote Dalus in announcing the deal.
