ControlZ Secures $3M Funding Led by 9Unicorn and Venture Catalysts
Delhi-based ControlZ, a pioneering player in the premium renewed smartphones market, has successfully raised $3 million in seed funding. Co-led by 9Unicorn and Venture Catalysts, this funding round, comprising a blend of debt and equity, marks a significant milestone for the startup.
Focus on Automation and Quality Enhancement: With the infusion of fresh capital, ControlZ aims to bolster its automation processes and establish state-of-the-art testing laboratories that rival those of original equipment manufacturers (OEMs). This strategic initiative is geared towards enhancing the quality of its offerings while simultaneously driving affordability for consumers.
Specialization in Renewing Pre-owned Electronics: Founded by Yug Bhatia, ControlZ specializes in renewing pre-owned electronics at a component level. By extending the life cycle of smartphones both visually and functionally, the startup is dedicated to reducing the carbon footprint associated with electronic waste.
Environmental Sustainability and E-waste Reduction: ControlZ’s core mission revolves around reducing the environmental impact of manufacturing new devices by focusing on the renewal of smartphones. In a segment dominated by a $70 billion pre-owned smartphone market, the startup’s innovative approach not only addresses the critical issue of e-waste but also contributes significantly to environmental sustainability.
Recognition and Market Leadership: Dr. Apoorva Ranjan Sharma, Co-founder and Managing Director of Venture Catalysts, commended ControlZ’s impactful strategy aimed at e-waste reduction and lauded its forward-thinking vision. Anticipating ControlZ’s emergence as a market leader, particularly with its advanced facilities catering to premium brands like Apple and OnePlus, Sharma foresees the startup’s pivotal role in driving industry transformation and environmental conservation.
Conclusion: ControlZ’s successful funding round underscores its commitment to revolutionizing the premium renewed smartphones market while championing environmental sustainability. With a focus on innovation, quality enhancement, and market leadership, ControlZ is poised to make a lasting impact on both the industry and the planet.