ControlZ Secures $3 million in Seed Round Funding
A Delhi-based Smartphone renewing startup, ControlZ has successfully raised $3 million in a seed round funding. The seed round conducted was a mix of debt and equity. The round was collectively led by 9Unicorn and Venture Catalysts.
The startup plans to utilize the freshly secured funding to enhance its automation capabilities and establish advanced testing labs comparable to original equipment manufacturers (OEMs) to ensure that pre-owned smartphones are refurbished to a “just like new” standard. Moreover, a portion of the proceeds will be allocated to drive growth, improve product quality, and lower costs for customers.
The Delhi based Startup ControlZ was the brainchild of Yug Bhatia, which specializes in renewing pre-owned devices at the component level, cosmetically and functionally, thereby extending their life cycle. The brand demands to offer consumers products that appear indistinguishable from new. The company aims to extend the life cycle of smartphones, both visually and functionally, while lowering their carbon footprint.
He quoted, “With this development, we are certain about raising the overall industry standards,with these resources, we aim to further strengthen our technology by automating the complete renewal process. Our efforts are towards increasing the lifecycle of as many devices possible.”
The startup’s prime goal is to reduce the environmental impact associated with manufacturing new devices. This approach not only extends the life of existing devices but also addresses the critical issue of e-waste in the $70 billion pre-owned smartphone segment.
Co-founder and Managing Director of Venture Catalysts, Dr. Apoorva Ranjan Sharma, praised ControlZ's impactful approach towards reducing e-waste and its vision for the future.
Sharma is hopeful that, ControlZ will emerge as a market leader, particularly with its advanced facilities for premium brands like Apple and OnePlus. This leadership is expected to not only position ControlZ at the forefront of the industry but also make a significant environmental impact.
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The startup plans to utilize the freshly secured funding to enhance its automation capabilities and establish advanced testing labs comparable to original equipment manufacturers (OEMs) to ensure that pre-owned smartphones are refurbished to a “just like new” standard. Moreover, a portion of the proceeds will be allocated to drive growth, improve product quality, and lower costs for customers.
The Delhi based Startup ControlZ was the brainchild of Yug Bhatia, which specializes in renewing pre-owned devices at the component level, cosmetically and functionally, thereby extending their life cycle. The brand demands to offer consumers products that appear indistinguishable from new. The company aims to extend the life cycle of smartphones, both visually and functionally, while lowering their carbon footprint.
He quoted, “With this development, we are certain about raising the overall industry standards,with these resources, we aim to further strengthen our technology by automating the complete renewal process. Our efforts are towards increasing the lifecycle of as many devices possible.”
The startup’s prime goal is to reduce the environmental impact associated with manufacturing new devices. This approach not only extends the life of existing devices but also addresses the critical issue of e-waste in the $70 billion pre-owned smartphone segment.
Co-founder and Managing Director of Venture Catalysts, Dr. Apoorva Ranjan Sharma, praised ControlZ's impactful approach towards reducing e-waste and its vision for the future.
Sharma is hopeful that, ControlZ will emerge as a market leader, particularly with its advanced facilities for premium brands like Apple and OnePlus. This leadership is expected to not only position ControlZ at the forefront of the industry but also make a significant environmental impact.
