Munich/Bonn, 6th of February 2014 – T-Venture, the corporate venture capital unit of Deutsche Telekom Group, invests in Teqcycle , one of the leading com-panies for mobile device trade-in and reuse solutions in Europe. T-Venture will support Teqcycle’s growth and roll-out of its business and help to increase the public awareness for trade-in opportunities for used mobile phones.
T-Venture invests in Teqcycle Solutions, founded in January 2013 as a spin-off of Teqport Services. Teqcycle Solutions provides a certified, multi-step take back and reuse program offering full transparency on the refurbishment and resale process. Deutsche Telekom is one of the major partners of Teqcycle and has used the solu-tion for several years as a part of its customer service initiatives. Other customers include renowned retailers, large corporations and government bodies.
Teqcycles „Shop-Take-Back-Solution“ offers retail partners and their customers an app based or web based solution which calculates the trade-in value of a mobile phone. The calculated trade-in value is directly subtracted from the price of an item bought at the retailer. Consumers can enter a Telekom shop and trade-in mobile phones of any manufacturer and operator and save on a new purchase.
Corporations can make use of the „Business-Phone-Take-Back-Solution“, which al-lows for an easy and save swop of their mobile phones. All devices undergo a DEKRA-certified take back process including data deletion and will be checked and resold by Teqcycle. Teqcycle guarantees complete deletion of sensitive business data.
Teqcycle’s third offering are public collections, e.g. on behalf of the Bavarian ministry for environment and public health or on behalf of the federal ministry of education and research. Teqcycle is a DEKRA certified waste management company and able to recycle old devices accordingly.
Thomas Vogel, at T-Venture responsible for the investment into Teqcycle, com-ments: “We see a very attractive market for teqcycle and strong growth potential, as the company tailored its services very well to the needs of retail partners, manufac-turers and operators. This creates opportunities to scale the business strongly. We are pleased to support this development with an investment by T-Venture.”
Sebastian Neubeck, Managing Director at Teqcycle adds: „It is an important step for Teqcycle that we not only attracted an investor who provides capital to grow the business but that T-Venture can strengthen the co-operation with our business part-ner Deutsche Telekom as well.”
Lead investor T-Venture is joined in the financing round by Barkawi Group, the ma-jority shareholder of Teqcycle and by the management. The investment is subject to approval by antitrust authorities.
Teqcycle Solutions GmbH was founded in January 2013 as a spin-off from the long-standing and suc-cessful company Teqport Services GmbH, which has specialized for a number of years in ensuring proper disposal and recycling of ICT products.
Teqcycle sees itself as a coordinator of custom take-back processes and programs for mobile terminal devices and guarantees its customers certified erasure of sensitive data and unique transparency throughout the process chain. Due to its independence in the choice of service providers Teqcycle is able to deliver a cost-optimised service free of conflicts of interest. Flexibility and tailoring of its ser-vices to customer-specific (and also existing) processes are some of Teqcycle’s strengths.
The company is headquartered in Munich.
Teqcycle Solutions GmbH
T-Venture Holding GmbH was founded in 1997 as a wholly owned subsidiary of Deutsche Telekom AG. It has since then invested in young companies that demonstrate economic and technological syn-ergies with the Deutsche Telekom business units as well as above-average growth potential. Its head office is in Bonn. It is supported and complemented in its activities by T-Venture of America, Inc. in San Francisco and in Seattle. Investment activities focus on Europe, the United States and Israel.
T-Venture Holding GmbH
Tel.: +49 228 308 48 - 0