ControlZ announced a $3 million seed funding round co-led by 9 Unicorn and Venture Catalysts. The company plans to use this investment to improve its automation processes and align its testing laboratories with OEM standards, aiming to enhance the quality of renewed smartphones in the pre-owned category.
- Funding co-led by 9 Unicorn and Venture Catalysts, combining debt and equity.
- Investment to be used for advancing automation and testing labs.
- Aims to improve product quality and reduce costs for customers.
- ControlZ focuses on extending device lifecycles and reducing environmental impact.
The funding round marks a significant step for ControlZ in the renewed smartphone sector. The company seeks to leverage this capital to drive growth and introduce advancements that will elevate product quality while also focusing on cost reduction for consumers.
ControlZ has been recognized for its efforts to extend the lifespan of smartphones, aiming to lessen the environmental impact associated with manufacturing new devices. “With this development, we are certain about raising the overall industry standards,” said Yug Bhatia, Founder and CEO of ControlZ. He emphasized the company’s commitment to automating the renewal process and increasing the lifecycle of devices as a step towards a more sustainable world.
Dr. Apoorva Ranjan Sharma, Co-founder and Managing Director of Venture Catalysts, highlighted the environmental benefits of ControlZ’s business model, noting the company’s potential to lead the market in the pre-owned smartphone segment, particularly for Apple and OnePlus devices. This investment underscores the growing interest in sustainable solutions within the technology sector.
ControlZ’s recent funding is seen as a pivotal moment in its journey, reinforcing its role in the evolving renewed smartphone industry and setting the stage for future innovations aimed at reducing e-waste and offering high-quality, like-new devices to consumers.