ControlZ has raised $3 million in a seed funding round co-led by 9 Unicorn and Venture Catalysts. This strategic funding is a combination of debt and equity,. ControlZ will invest the funds in testing labs and automation to propel the brand to OEM-level efficiency. It also promises to set a new standard for quality in the pre-owned smartphone market.
The company plans to strategically deploy the capital injection to drive growth, advance its overall ecosystem, and ultimately enhance the quality of its products while reducing costs for customers. ControlZ aims to deliver world-class quality renewed smartphones and ensure that customers get devices that are ‘Just like New.’
“We are thrilled to have secured this key funding from our investors. With this development, we are certain about raising the overall industry standards,” said Mr. Yug Bhatia, Founder and CEO of ControlZ. “This funding is not only a significant milestone for ControlZ, but it also represents a shared belief in our ambition to organize the pre-owned smartphone industry. With these resources, we aim to further strengthen our technology by automating the complete renewal process. Our efforts are towards increasing the lifecycle of as many devices possible because if a fraction of the resources used in making new phones were used in renewing, the world would be a better place,” he continued.
ControlZ is also known for its focus on sustainability. It promises to increase the lifecycle of smartphones, thereby reducing the environmental impact of manufacturing new devices.
The successful seed funding round marks a significant milestone for ControlZ. It will also help the company to compete well against already established rivals. The company is enthusiastic about entering the next phase of its journey by utilizing the new capital injection.