SevenVentures, advised by E+H, invests in sustainable start-up “refurbed”
SevenVentures, the investment arm of ProSiebenSat.1 Media SE, has invested in “refurbed,” an Austrian start-up with an online marketplace for refurbished electronic devices which can now continue its expansion. Several national and international investors were involved in the recently completed Series B financing round of EUR 45.5 million – one of the largest in 2021 in the Austrian start-up scene.
SevenVentures was advised by E+H in this transaction. With its investment in refurbed, SevenVentures joins a circle of well-known investors including Evil Growth Partners from Finland and Almaz Capital from California. SevenVentures offers a flexible investment model that helps young start-ups. Through its affiliation with ProSiebenSat.1 Media SE, SevenVentures offers a package of advertising time on the media group’s diverse, high-reach TV and digital channels and numerous other services in return for equity (media-for-equity) or revenue participations (media-for-revenue). In addition to investments in companies such as About You, Ottonova, Friday, Tink, Sanity Group, and Wellster Healthtec, the company’s current investment in refurbed shows an ongoing support of forward-looking ideas and sustainable products.
Refurbed, which sells refurbished smartphones, tablets, and laptops, says its innovative approach has enabled it to reduce up to 170 tons of e-waste in recent years, saving 31,000 tons of CO2. Founded in 2017, the company provides its customers with fully renewed and therefore 100% sustainable electronic devices of high quality. With its revolutionary thought for sustainable shopping, refurbed is one of the fastest growing online marketplaces for refurbished products in the entire DACH region. With the help of the fresh capital, existing markets in Austria, Germany, Ireland, France, Italy, and Poland will be further expanded, and new markets will be developed.
Advisors to SevenVentures:
E+H (Eisenberger + Herzog Rechtsanwalts GmbH)
Dr. Clemens Lanschützer and Dr. Alric A. Ofenheimer (partners, Corporate / M&A); Pascal Haring and Wolfgang Köfer (associates, Corporate / M&A); Dr. Helmut Liebel (partner, IP/IT); Michael Staudinger, LL.M. (associate, IP/IT); Titus Kahr, LL.M. (associate, Regulatory)
With numerous investments in various market segments, SevenVentures is the leading media investor worldwide. As a company in the Commerce & Ventures segment of ProSiebenSat.1 Media SE, SevenVentures is the ideal partner for high-growth B2C companies that have the potential to achieve sustainable success through the use of TV advertising, especially in the consumer goods, retail, and services sectors. SevenVentures also supports companies in their international growth with media power, capital, and all other services. In the Commerce & Ventures segment, ProSiebenSat.1 bundles the Group’s investment activities in minority and majority interests. In addition to SevenVentures, with the SevenAccelerator, this includes the companies of the NuCom Group and SevenGrowth.