Singapore electronics upcycler Reebelo raises US$1.25 million
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Singaporean refurbished-electronics marketplace Reebelo has raised a US$1.25 million seed round led by June Fund, with participation from Antler.
The funds will be used to speed the firm’s expansion by supporting new marketing and operations hires as the business extends further into Asia-Pacific markets.
“We are strong believers and investors in circular commerce,” said June managing partner David Rosskamp, who is joining Reebelo’s board. “What it ultimately stands for is a different form of consumption, with a more sustainable and often fairer way. Reebelo’s team is following this mission with passion and focus.
“Supporting Reebelo to build up a central electronics trading infrastructure ideally mirrors our investment theses, and we are happy to invest at an earlier stage than we usually do.”
The firm acts to reduce consumer-electronics waste and has a strong sustainability focus, selling checked and refurbished devices at prices up to 70-per-cent less than brand new models. It also purchases second-hand devices to be refurbished and resold.
Questions & Answers
Q.What is the primary purpose of the recently raised funds for Reebelo?
What is the primary purpose of the recently raised funds for Reebelo?
The US$1.25 million seed round will be used to accelerate the firm's expansion. Specifically, it will support new marketing and operations hires as the business extends further into Asia-Pacific markets, helping Reebelo grow its regional presence.
Q.Who were the main investors in Reebelo's seed funding round?
Who were the main investors in Reebelo's seed funding round?
June Fund led the seed funding round for Reebelo, contributing to the US$1.25 million raised. Antler also participated in this investment round, providing additional capital for the refurbished-electronics marketplace's expansion plans.
Q.What is Reebelo's core business model regarding electronic devices?
What is Reebelo's core business model regarding electronic devices?
Reebelo operates by selling checked and refurbished electronic devices, offering them at prices up to 70 per cent less than new models. The firm also purchases second-hand devices, which it then refurbishes and resells, reducing consumer waste.
Q.Why did June Fund choose to invest in Reebelo, despite it being an earlier-stage investment than usual?
Why did June Fund choose to invest in Reebelo, despite it being an earlier-stage investment than usual?
June Fund invested in Reebelo due to its strong belief in circular commerce and the firm's sustainable approach to consumption. David Rosskamp stated that supporting Reebelo's aim to build a central electronics trading infrastructure aligns perfectly with their investment theses.
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