EcoATM Gazelle, an early success story in San Diego’s tech startup scene, has raised an additional $50 million in funding.
“We’ve just begun to scratch the surface of the re-commerce economy,” said Stan Pavlovsky, chief executive of ecoATM, in a statement. “With the confidence of our investment partners behind us, we are excited for the opportunity to position ourselves as the first choice when it comes to trading-in high quality used smartphones and bringing affordable smartphone access to consumers, all while making a meaningful impact in reducing harmful e-waste.
Coming out of the Great Recession, ecoATM was one of the region’s marquee startups. It was among the first graduates of San Diego’s EvoNexus incubator program for young technology firms. In 2013, it was sold to publicly traded Outerwall for $350 million.