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Gazelle raises USD12m led by Physic Ventures

Boston-based Gazelle, a reCommerce service, has raised a USD12m series C round of investment led by Physic Ventures.

Gazelle’s current investors, Venrock Associates and RockPort Capital, have also invested in this round of financing. 

Last year, Gazelle’s business tripled as it attracted nearly 100,000 customers to trade in or recycle used electronics.

Fueled by new equity, Gazelle will focus on scaling its business infrastructure to meet this growth.

The new funding also enables Gazelle to make additional investments in key areas of the business, including its proprietary pricing technologies and processes.

Gazelle will also work with existing retail partners to build an in-store experience that brings reCommerce to physical retailer sites. 

"Physic Ventures believes that providing tools and incentives for consumers to reuse, recycle, and engage in reCommerce can dramatically reduce the environmental impact of our modern lifestyles," says Andrew Williamson (pictured), a director at Physic Ventures. "Gazelle’s impressive growth demonstrates that consumers and manufacturers are rapidly adopting the concept of reCommerce as a way to cost effectively and environmentally upgrade consumer electronics. We look forward to working with the company’s talented team and existing investors to help Gazelle continue this growth."

Israel Ganot, Gazelle co-founder and chief executive, says: "Our goal is to redefine consumption and completely change the way consumers think about buying, owning, selling, and recycling electronics. By helping us bring reCommerce to more people and build infrastructure to support the back-end processes of the business, this financing will make this goal a reality."

This round of funding is the third in Gazelle’s four-year history, with its last round in 2008, led by RockPort Capital.

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