Reducing E-Waste: Valyuu Secures €2.4M for Circular Electronics Platform
Circular platform Valyuu secures €2.4M in a new funding round, a year after its initial investment.
Since its inception, founders Ferhat Topuz, Arvin Esterabadi and Jingwei Ren have been striving to encourage reuse and thereby reduce the e-waste pile.
The fast-growing startup is determined to make a circular lifestyle as attractive and accessible as possible for everyone. Through Valyuu, consumers can easily buy or sell pre-owned electronics such as smartphones, tablets and wearables.
With the investment round, led by Rubio Impact Ventures and Slingshot Ventures, with participation from US-based Techstars, Golden Egg Check Capital and several angel investors, Valyuu is committed to further developing the platform, increasing brand awareness in the Benelux and international expansion.
In our interconnected world, the consumption of new electronics is soaring, contributing to a concerning issue — rapid turnover results in functional electronic devices being discarded in landfills. Without a change, the global tally of e-waste could reach 75 million tonnes by 2030. Surprisingly, 54% of individuals abstain from reusing items due to perceived inconvenience and futility. A common scenario involves storing devices as backups, only to forget them over time.
We have been working in the electronics market for years and see how irresponsibly stuff is handled. 80% of all electronics still function perfectly, and the remaining 20% just need a refresh. This does indicate that reuse in this sector needs a boost.
said Ferhat Topuz, CEO of Valyuu.
With an accessible digital platform – the buying and selling process on Valyuu is very simple – we want to lower the threshold for giving discarded products a new life.
Transparent ‘product passport’
With over 20,000 active buyers and sellers on the platform within a year, Valyuu has not gone unnoticed. In the recent investment round, they quickly gained the trust of renowned impact investor Rubio Impact Ventures and consumer investor Slingshot Ventures, among others. Combining impact with e-commerce is important for Valyuu; the platform shows that a sustainable choice can be accessible, affordable and profitable.
They differentiate themselves from refurbishers by being the sole party between buyer and seller and offering a complete ‘product passport’ for each product. This so-called passport provides full transparency on the product’s condition, complete with unique photos and access to test reports.
As a result, consumers know exactly what they are buying. All products are validated using software and tested for functionality. If all tests are passed, products work correctly and are approved by Valyuu, and they are offered as certified pre-owned.
Why we get so excited about Valyuu is the realisation that a used phone still works just fine, and it’s mainly about convenience and trust.
It seems like a small detail, but by not sending that phone with that little scratch halfway across the world for a new back cover, you save up to 80% of emissions, AND you can offer both buyer and seller a better price.
says Warner Philips, partner at Rubio.
Valyuu is operating in a market that we expect to continue to grow rapidly in the coming years – the lifespan of electronic equipment is increasing, making it easier for it to get a second life. Valyuu has shown that its proposition matches consumer needs. This provides a good basis to realise its ambitious growth plans.
stated Ernst Rustenhoven, who led the investment from Slingshot Ventures
The most sustainable platform for your device
The startup’s plans are clear: the investment focuses on further growth in the Benelux and further international expansion. Behind the scenes, this means developing the platform with new product features, expanding the product catalogue and optimising the pricing and matching technology.
Valyuu’s goal is to encourage more circular behaviour.
Consuming less is necessary to reduce global CO2 emissions. Valyuu believes that the easiest choice for people should always be circular with a positive impact on both the world and the wallet. The startup lets people buy and sell more consciously and transparently, without barriers and without compromising on quality.