Existing investor JD.com returned for a Tiger Global-led round that valued the electronics recycler at more than $1.5bn.

China-based electronics recycling service Aihuishou has raised $150m in funding from investors including e-commerce firm JD.com, China Money Network reported today.

The round was led by investment firm Tiger Global Management and valued Aihuishou at more than $1.5bn according to a statement by the company. It increased the Aihuishou’s overall funding to $278m.

Founded in 2011, Aihuishou operates a business that gives consumers money for second-hand electronics goods such as smartphones, harvesting some of the rare materials that make up…