Grace Ashiru
E3 Capital’s Low Carbon Economy Fund has taken a prominent role in the initial funding round for Badili Africa, a re-commerce startup specializing in the refurbishment of digital devices. The investment’s primary goal is to bolster Badili’s mission of addressing Africa’s digital divide sustainably by offering cost-effective access to leading smartphone brands through local refurbishment operations in Kenya, Uganda, and Tanzania. Through the utilization of the E3 Low Carbon Economy Fund, this financial injection is anticipated to enhance Badili’s operational efficiency and pave the way for its expansion into new markets beyond the East African region, ultimately contributing to the enhancement of Africa’s digital infrastructure.
Badili Africa’s innovative strategy revolves around providing high-quality devices at a fraction of the cost of brand-new models, thereby ensuring their accessibility to a wider range of consumers. The investment from E3 Capital underscores their dedication to fostering digital innovation and supporting environmental sustainability. Paras Patel, Managing Partner at E3 Capital, emphasized the positive environmental impact of Badili’s operations, noting that refurbished phones can reduce CO2eq emissions by 87% compared to new ones.
Rishabh Lawania, CEO and Co-Founder of Badili expressed his satisfaction in welcoming E3 Capital as the primary investor in their seed round, foreseeing a significant influence on both the company and the lives of customers seeking affordable and eco-friendly electronic devices. This partnership is viewed as a pivotal step towards realizing Badili’s objectives and strengthening its position in the industry.
Established in 2021, Badili Africa operates within Kenya, Tanzania, and Uganda. The company’s core mission involves legitimizing the grey market for refurbished mobile phones through the aggregation, repair, and reintroduction of pre-owned devices via diverse distribution channels. In contrast, E3 Capital, a prominent investor specializing in early-stage enterprises throughout Africa, manages the E3 Low Carbon Economy Fund. This fund places a strong emphasis on climate technology and digital infrastructure investments, aligning perfectly with E3 Capital’s dedication to supporting visionary entrepreneurs in emerging markets while upholding global sustainability objectives.
