Grover's latest funding round increases to $100 million

The electronics landlord has once again expanded its Series B. In total, the Berlin-based start-up has already raised one billion euros.

The current Series B financing round of the sharing start-up Grover has increased from 71 to 100 million US dollars. Grover's investors include London-based private equity firms JMS Capital-Everglen, Augmentum, Seedcamp, Viola Fintech from Israel, Scottish private equity firm Circularity Capital, Cologne-based VC Coparion and Samsung Next, a subsidiary of Samsung. In total, Grover has thus raised more than one billion US dollars in debt and equity capital - in addition to the previous financing rounds, also from an asset-backed financing of 850 million euros from London-based Fasanara Capital.

According to its own statement, this is the largest financing to date for a startup from the Circular Economy. Grover rents tech products by the month, for both residential and corporate customers. By 2024, the company aims to increase the number of devices it rents to five million. "We want to provide more people with access to technology while reversing the alarming trend of more e-waste," says Grover founder and CEO Michael Cassau. "Because this has serious consequences for the environment. To date, we've already recycled more than 475,000 devices, which equates to saving more than 1,400 tons of e-waste." Grover is already the market leader in Europe, and now the Berlin-based company wants to become the global leader. Grover is active in Germany, Austria, the Netherlands and Spain and plans to expand into other countries by the end of the year.