GoodElectronics Network member Closing the Loop announced two days ago that 360.000 euro was invested in the Dutch company. This was made possible by an endorsement from PYMWYMIC, a community of sustainable investors. Closing the Loop encourages the recycling of mobile phones in Asia and Afrika. At the moment it's active in seven countries and has made the recycling of over 300.000 mobile phones possible.
GoodElectronics Network member Closing the Loop announced two days ago that 360.000 euro was invested in the Dutch company. This was made possible by an endorsement from PYMWYMIC, a community of sustainable investors. Closing the Loop encourages the recycling of mobile phones in Asia and Afrika. At the moment it's active in seven countries and has made the recycling of over 300.000 mobile phones possible. The social startup will use the investment to extend its international activities.
Impact-investors
This is the company’s first investment round, because it was only active as a foundation up until a year ago. That’s when founder Joost de Kluijver decided to start working fulltime at Closing the Loop. He applied for Investment Ready, a programme for innovative 'greentech'-startups with a proof of concept. During the Demo Day of this programme the entrepreneur encountered PYMWYMIC, a group of private impact-investors. In the end this led to an investment of 360.000 euro.
For more on this (in Dutch), click here.
