E3 Capital leads investment in refurbished smartphone company
E3 Capital leads investment in refurbished smartphone company
E3 Capital has announced its investment in Badili Africa’s seed funding round.
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E3 Capital has announced its investment in Badili Africa’s seed funding round. Badili offers affordable, quality refurbished smartphones from leading brands to consumers in Kenya, Uganda, and Tanzania, significantly reducing costs compared to new models.
E3 Capital's investment through the E3 Low Carbon Economy Fund (E3 LCEF I) will propel Badili’s expansion into new markets beyond East Africa.
Rishabh Lawania, CEO and co-founder of Badili commented, “We are proud to welcome E3 Capital, an African seasoned VC, as the lead investor in our latest seed round. I am excited for the significant impact that this partnership will have on our business as well as the lives of our thousands of aspirational African consumers who are looking to buy affordable and environmentally friendly electronics.”
Paras Patel, managing partner at E3 Capital stated, “Supporting Badili Africa, aligns with our ethos of fostering digital innovation while advocating for environmental sustainability … In just a short period, we have been impressed by Badili’s ability to scale the business model in Kenya, Uganda and Tanzania, striking partnerships with key stakeholders in the ecosystem.”
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