NorthLadder Secures $10 Million to Drive Sustainable Device Trade-Ins
NorthLadder, a company specializing in mobile device trade-ins, has secured significant funding to further its mission of promoting sustainability in the mobile device sector. The company’s latest funding round, led by Stc Group’s ‘tali ventures,’ raised $10 million in Series B funding. This investment underscores NorthLadder’s commitment to extending the lifecycle of mobile devices and reducing electronic waste.
The partnership between NorthLadder and Piceasoft, a leading provider of mobile device lifecycle solutions, aims to simplify and enhance the mobile trade-in process. Piceasoft’s all-in-one PiceaOnline platform, combined with NorthLadder’s advanced trade-in capabilities, offers a comprehensive solution for mobile network operators and retailers. This collaboration is designed to make trade-ins more accessible, transparent, and fair for consumers, thereby encouraging responsible reuse and recycling of mobile devices.
The mobile device trade-in market is growing rapidly, with an estimated 9.5% increase from 282 million units in 2022 to 309 million units in 2023. Projections indicate that shipments of used smartphones will reach nearly 431 million units by 2027, highlighting the potential for significant environmental impact through responsible device recycling.
NorthLadder’s approach focuses on providing the best trade-in prices, driven by its unique last-mile retailer auction platform and advanced device processing and logistics capabilities. The company’s ambition is to be at the forefront of the mobile device circular economy, promoting sustainability and reducing electronic waste.
The partnership with Piceasoft enhances NorthLadder’s ability to offer higher new device sales for its partners and more affordable new devices for their customers, while promoting the sustainability of old devices. By simplifying and making the trade-in process more transparent, NorthLadder and Piceasoft aim to significantly reduce the amount of electronic waste generated from discarded devices.
Currently, over 5 billion mobile devices are discarded annually, contributing to more than 50 million tonnes of e-waste. The collaboration between NorthLadder and Piceasoft is a critical step towards addressing this sustainability challenge by extending the lifecycle of mobile devices and promoting responsible reuse and recycling.
NorthLadder’s funding and strategic partnerships position the company to play a pivotal role in shaping the future of the mobile device circular economy. By offering a comprehensive and user-friendly trade-in solution, NorthLadder aims to make a significant impact on reducing electronic waste and promoting sustainable practices in the mobile device sector.
The company’s commitment to sustainability is reflected in its mission to give every device a new life. By providing a platform that makes trade-ins simple, fair, and transparent, NorthLadder encourages consumers to make responsible and sustainable choices without sacrificing value for money. This approach not only benefits consumers but also supports network operators and retailers in capitalizing on improved operational efficiencies for trade-in services, leading to increased customer satisfaction.
NorthLadder’s recent funding and strategic partnerships underscore its dedication to creating a more circular economy in the mobile device sector. By leveraging advanced technology and collaborative efforts, the company is poised to make a significant difference in reducing electronic waste and promoting sustainable practices in the industry.
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