Smartphone maker Xiaomi has participated in a $15.7m round for the electronics recycling service that included Shunwei Capital.
China-based electronics recycling platform operator Shanhuishou has secured almost RMB100m ($15.7m) in series A funding from electronics manufacturer Xiaomi and venture capital firm Shunwei Capital, 36kr has reported.
Founded in 2016, Shanhuishou operates an app-based service that enables consumers to quickly arrange the recycling of electronic items such as smartphones, tablets and computers in exchange for a fee.
The recycled goods are pre-qualified by an assessment through instant messaging platform WeChat. Once approved, consumers can return their products to more…
