Skip to main content

France’s SOS Accessoire raises £12M to help people repair their home appliances themselves

SOS Accessoire, a French startup that helps people diagnose and repair their home appliances, has raised €10M/$12M in a funding round led by ETF Partners. The round was joined by Quadia, Starquest, and Seed for Good.

There is now a growing home repair market, powered by startups like this, which allow people to save money, but also reduce waste, and ultimately help the environment.

Around 80% of home appliances get replaced instead of repaired, creating an enormous environmental problem. At the same time, says SOS Accessoire, the spare parts market is worth €4.1bn in the European Union alone. So why not tap into that consumer desire? Why indeed not.

However, sourcing spare parts is not easy, there are hundreds of suppliers, and instructions are aimed at professionals, not amateur repairers.

SOS Accessoire provides tools to diagnose home appliance problems, access spare parts, and provides video tutorials for the repair process.

The company says it estimates it has now saved half a million appliances in 2020, equivalent to 20,000 tonnes of CO2 emissions, or the annual equivalent of CO2 emissions from 4,375 French people a year.

Olivier de Montlivault, the founder of SOS Accessoire, said: “We have a huge opportunity to help reduce household appliance waste and, in doing so, disrupt the perceived thinking that once something is broken, it must be replaced.”

Its direct competitors are other digital players focusing on the retail customer such as Spareka and Adepem. But SOS Accessoire says its competitive advantages include its size, availability of spare parts and catalog/database.

Remy de Tonnac, a partner at ETF Partners, said: “We’re seeing an increasingly conscious consumer wanting to maintain their appliances, rather than just throw them away. SOS Accessoire is ideally placed to meet that need, with a management team that has a deep understanding of the market and the business model to not only dominate this niche within the e-commerce sector but disrupt the broader market itself.”



from TechCrunch https://ift.tt/2PuTCod
via IFTTT

Comments

Popular posts from this blog

Max Q: Psyche(d)

In this issue: SpaceX launches NASA asteroid mission, news from Relativity Space and more. © 2023 TechCrunch. All rights reserved. For personal use only. from TechCrunch https://ift.tt/h6Kjrde via IFTTT

Max Q: Anomalous

Hello and welcome back to Max Q! Last week wasn’t the most successful for spaceflight missions. We’ll get into that a bit more below. In this issue: First up, a botched launch from Virgin Orbit… …followed by one from ABL Space Systems News from Rocket Lab, World View and more Virgin Orbit’s botched launch highlights shaky financial future After Virgin Orbit’s launch failure last Monday, during which the mission experienced an  “anomaly” that prevented the rocket from reaching orbit, I went back over the company’s financials — and things aren’t looking good. For Virgin Orbit, this year has likely been completely turned on its head. The company was aiming for three launches this year, but everything will remain grounded until the cause of the anomaly has been identified and resolved. It’s unclear how long that will take, but likely at least three months. Add this delay to Virgin’s dwindling cash reserves and you have a foundation that’s suddenly much shakier than before. ...

What’s Stripe’s deal?

Welcome to  The Interchange ! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site, sign up  here  so you can receive it directly in the future. Every week, I’ll take a look at the hottest fintech news of the previous week. This will include everything from funding rounds to trends to an analysis of a particular space to hot takes on a particular company or phenomenon. There’s a lot of fintech news out there and it’s my job to stay on top of it — and make sense of it — so you can stay in the know. —  Mary Ann Stripe eyes exit, reportedly tried raising at a lower valuation The big news in fintech this week revolved around payments giant Stripe . On January 26, my Equity Podcast co-host and overall amazingly talented reporter Natasha Mascarenhas and I teamed up to write about how Stripe had set a 12-month deadline for itself to go public, either through a direct listing or by pursuin...