Electronics recycler Electrobac raises $1 mln in seed round
Electrobac, a Montréal-based electronics recovery technology company, has closed a seed-stage financing of $1 million. The round's investors were Fondaction and Ecofuel Fund, a seed investment affiliate of Cycle Capital Management. Founded in 2011 by CEO Philip Bénard, Electrobac implements and manages a network of smart recycling bins for small, end-of-life electronics. It also offers businesses a buyback scheme for mobile devices. The company said it will use the funds raised to expand into new markets, including Ontario and British Columbia, double the size of the team, and enhance its platform.
15 August 2018•4 mins read
