KENYA – Badili, the first re-commerce platform in Africa, has successfully raised a seed round of funding led by E3 Capital, the amount has not been disclosed yet.
Both existing and new investors, including Renew Capital and Grenfell Holdings, participated in the round. This funding round comes after a year of Badili’s Pre-seed funding round.
The investment aims to support Badili’s mission of sustainably addressing Africa’s digital divide by providing affordable access to top-tier smartphone brands through local refurbishment in Kenya, Uganda, and Tanzania.
By leveraging the E3 Low Carbon Economy Fund, this financial infusion is expected to enhance Badili’s operational efficiency and facilitate its expansion into new markets beyond East Africa, ultimately contributing to the improvement of Africa’s digital infrastructure.
The funding will also allow the company to strengthen its operational efficiency and expand its reach in current markets.
The startup plans to accomplish this by bringing on board new talent to help scale its operations and work towards stabilizing unit economics. These efforts will help Badili to continue its innovative work and strengthen its position in the industry.
“E3 Capital is one of the few rare African VC firms that have seen the rise of the African business ecosystem from a nascent stage, and it’s a matter of pride for us at Badili to welcome a seasoned VC firm as a lead of our latest seed round,” Rishabh Lawania, CEO and Co-Founder of Badili commented.
“I am certain that this partnership will make a huge impact on our business as well as the lives of our thousands of aspirational African consumers who are looking to buy affordable and carbon-neutral consumer electronics.”
Co-founded by Rishabh Lawania & Keshu Dubey in 2021, Badili expanded into two more strategic markets last year, including Uganda and Tanzania.
A few months ago, the startup announced its partnership with Airtel Uganda after completing its pilot run in the market.
The company now offers refurbished smartphones available through Airtel outlets in Kenya, Uganda, and Tanzania, as well as on online channels via other partners like Copia and Jumia.
“Supporting Badili Africa, aligns with our ethos of fostering digital innovation while advocating for environmental sustainability,” Paras Patel, Managing Partner at E3 Capital, stated.
“It’s noteworthy that refurbished phones reduce associated CO2eq emissions by 87% compared to new phones, underscoring the positive climate impact of Badili’s business model. In just a short period, we have been impressed by Badili ’s ability to scale the business model in Kenya, Uganda and Tanzania, striking partnerships with key stakeholders in the eco-system.”
E3 Capital, as a leading investor in early-stage businesses across Africa, manages the E3 Low Carbon Economy Fund, focusing on climate tech and digital infrastructure. The investment aligns with E3 Capital’s commitment to supporting forward-thinking entrepreneurs in emerging markets, ensuring growth without compromising global sustainability ambitions.
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