In an innovative approach to enterprise device leasing, UK startup Ooodles has raised $12 million to scale its flexible subscription model aimed at reducing e-waste. The seed round was led by Paris-based Smart Lenders Asset Management (SLAM), with participation from existing investors Octopus Ventures and Channel 4 Ventures. Ooodles offers businesses pay-as-you-go access to laptops, phones, and other devices, promoting reuse and sustainability.
The Growing E-Waste Crisis
Ooodles is tackling the pressing challenge of e-waste generated from discarded digital devices and electronics. Per UN estimates, around 50 million tonnes of e-waste is produced globally each year, with just 20% formally recycled. The remaining 80% ends up incinerated or in landfills, leaking hazardous chemicals and greenhouse gasses.
With rapid upgrade cycles, devices often become e-waste well before their usable life ends. Ooodles’ leasing model provides an innovative solution to extend device lifespans and reduce needless e-waste.
Ooodles’ Device Subscription Service
Founded in 2021 by tech industry veteran Leonardo Poggiali, Ooodles brings an innovative approach to enterprise device management. The company offers flexible subscriptions for high-end laptops, mobiles, and other hardware tailored for businesses.
This pay-as-you-go model minimizes upfront capital outlays for companies and allows aligning device usage to actual needs. Businesses can upgrade or scale back devices as requirements evolve. Centralized device management also streamlines efficiency.
By promoting leasing over ownership, Ooodles incentivizes the maximum lifespan for devices before recycling. Its platform facilitates the reuse and sharing of equipment across distributed workforces.
Powering Sustainable IT Consumption
Ooodles designed its subscription service to drive sustainable consumption patterns in IT hardware procurement. The company aims to make device leasing scalable to organizations of all sizes as a greener alternative to outright purchases.
Pay-as-you-go unlocks device accessibility previously limited to large enterprises with dedicated procurement teams. For small businesses, the platform simplifies acquiring cutting-edge technology hassle-free.
Ooodles co-founder Poggiali emphasized the service democratizes access to premium hardware in a way that benefits businesses, people, and the planet. The startup intends to scaffold diverse reuse models onto its leasing platform.
Funding to Disrupt the Device Lifecycle
The $12 million funding will fuel Ooodles’ expansion across the UK and Europe to evangelize its vision for subscription-based device management. The capital will also enable the development of technologies supporting circular hardware consumption.
The opportunity is massive – potentially disrupting IT spending markets valued at over $200 billion annually in Europe alone. As workforce dynamics keep evolving, Ooodles’ proposition of flexible device access could resonate widely.
By getting reuse right, Ooodles hopes to set new expectations for responsible and sustainable IT procurement. Its innovation comes at an opportune moment as e-waste threats accelerate globally. Wisely leveraged, the new funding can scale impact far beyond the investment.
Conclusion
With backing from high-profile investors, Ooodles is poised to drive a revolution in sustainable IT hardware consumption. By tackling e-waste through innovative enterprise subscription services, the UK startup could recast how businesses approach provisioning and managing devices. Ooodles has the potential to significantly reduce technology’s environmental footprint if it succeeds in mainstreaming its leasing model. Impact-driven startups like Ooodles highlight how disruptive business models can align profitability with social purpose.
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