E3 Capital’s Low Carbon Economy Fund has taken the lead in the seed funding round for Badili Africa, a re-commerce startup specializing in refurbished digital devices. The investment aims to support Badili’s mission of sustainably addressing Africa’s digital divide by providing affordable access to top-tier smartphone brands through local refurbishment in Kenya, Uganda, and Tanzania. By leveraging the E3 Low Carbon Economy Fund, this financial infusion is expected to enhance Badili’s operational efficiency and facilitate its expansion into new markets beyond East Africa, ultimately contributing to the improvement of Africa’s digital infrastructure.
Badili Africa’s innovative approach involves offering quality devices at a fraction of the price of new models, thereby making them accessible to a broader consumer base. The investment from E3 Capital underscores its commitment to fostering digital innovation while promoting environmental sustainability. Paras Patel, Managing Partner at E3 Capital, emphasized the positive climate impact of Badili’s business, highlighting that refurbished phones can reduce associated CO2eq emissions by 87% compared to new models.
Rishabh Lawania, CEO and Co-Founder of Badili, expressed pride in welcoming E3 Capital as the lead investor in their seed round, anticipating a significant impact on both the business and the lives of consumers seeking affordable and environmentally friendly electronics. The partnership is seen as a crucial step towards achieving Badili’s goals and solidifying its position in the industry.
Founded in 2021, Badili Africa operates in Kenya, Tanzania, and Uganda, formalizing the grey market for refurbished phones by aggregating, repairing, and reintroducing used devices through various channels. On the other hand, E3 Capital, as a leading investor in early-stage businesses across Africa, manages the E3 Low Carbon Economy Fund, focusing on climate tech and digital infrastructure. The investment aligns with E3 Capital’s commitment to supporting forward-thinking entrepreneurs in emerging markets, ensuring growth without compromising global sustainability ambitions.
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard.