ecoATM Gazelle is a global smartphone and mobile device re-commerce leader that purchases and resells pre-owned smartphones. The company is focused on creating a best-in-class user experience and building a robust technology platform to support omni-channel trade-in and resale. It plans to expand enterprise and sales partnerships by leveraging patented and proprietary technology and adding new features and services. ecoATM also intends to build new technologies and capabilities to develop industry standards in grading practices and pricing. The company reported reaching 38 million smartphone and mobile device re-commerce units as of January 2023, reflecting growing demand for device recycling. Leadership emphasizes increasing affordable smartphone access for consumers while reducing harmful e-waste. ecoATM Gazelle is a San Diego, CA–based global smartphone and mobile device re-commerce company led by CEO Dave Maquera. It enables users to check a phone’s value, prepare the device, sell it at a kiosk and receive payment. The company operates over 4,500 kiosks nationwide in grocery stores, shopping malls and other locations. ecoATM Gazelle is majority-owned by funds managed by affiliates of Apollo Global Management. It raised $75M in funding led by Cowen Sustainable Advisors. The company plans to use the proceeds to build and deploy thousands of automated retail fulfillment kiosks across the US, Europe and Asia, accelerate AI-enabled omni-channel mobile, web, and fintech retail product extensions, and support new market launches with increased multi-channel marketing and operational investments. ecoATM develops and operates automated kiosks for smartphone and other electronics trade-ins. The company’s kiosks accept consumer mobile phones which ecoATM inspects and then resells as used mobile devices. ecoATM says it owns and operates approximately 4,300 automated kiosks across the United States. As part of an expansion into Europe, the company has installed 54 kiosks in the U.K. and Germany. Financially, Cowen Sustainable Advisors acquired a significant minority stake in ecoATM for $200M, purchasing the stake from Apollo Funds. Apollo Funds, managed by affiliates of Apollo Global Management, remains the company’s majority owner. ecoATM operates ATM-like kiosks that accept cell phones, smartphones, MP3 players and recently tablets, automating device buy-back for consumers. The company debuted in 2011 and is San Diego–based. Over the last year it grew from about 50 kiosks to roughly 300 across 20 states and says people used the machines to recycle “hundreds of thousands of phones” last year, paying out “millions of dollars to hundreds of thousands of customers.” ecoATM reports it finds a second life for about 60% of collected devices and recycles the remainder. With plans to add another 600–700 kiosks and expand into smaller cities, supermarkets and other high-foot-traffic retail, the company is positioning for nationwide deployment. To support that expansion it has secured new capital and totals just over $70M in funding to date. EcoATM builds and operates self-service kiosks that accept used and broken electronic devices, scan them to estimate second-market value, and pay users cash or offer discounts on new phones (or allow donations to charity). The kiosks prompt users to insert devices, perform automated valuation, and complete a payout transaction at the machine. The company emphasizes convenience to increase electronics recycling rates and reduce e-waste. As of the article, EcoATM has about 50 units in the field and plans a nationwide deployment. Management says the company will use recent funding to buy additional kiosks and build out sales and marketing infrastructure. EcoATM is based in San Diego, Calif., and won the Best Clean Tech Startup Crunchies Award in 2011.

Total raised

$396M

Funding rounds

9

Latest round

Equity

Latest activity

Mar 2023