Gazelle, a Boston, MA-based provider of a service that allows consumers to sell unwanted electronics or to recycle them, has raised $22m in Series D financing.
The round was led by Craton Equity Partners, with participation from existing investors Physic Ventures, Venrock Associates and RockPort Capital.
Gazelle intends to use the new capital to accelerate its plans to market its service to mass media, make additional investments in key areas of the business, including operational capital, marketing, inventory acquisition and additional processes.
In conjunction with the funding, David Asarnow, Principal at Craton Equity Partners, joins Gazelle’s board of directors.
A service of Second Rotation, Inc. Gazelle is led by co-founder and CEO Israel Ganot. To date, it has been used by more than 175,000 consumers.
FinSMEs
21/07/2011