Xfurbish, an e-waste refurbish start-up launched in Jan 2020, has created its success story in the very first year of its operations with a staggering profit of over 30%. An idea to execution story in creating a world class in-house team and creating a market place for the refurbished unorganised market, this is one of the startups to watch for, registering an year on year growth of almost 75 percent. The first Financial Year revenues reached a whopping Rs.8 crores approximately.
Considering the e-waste management issue, the visionary founder Venkatesh Rao K, turned the problem into an opportunity. “Electronic Waste is emerging as a serious public health and environmental issue in India. India is the “fifth-largest electronic waste producer in the world”; approximately 5.2 million tons of e-waste are generated annually and an undisclosed amount of e-waste is imported from other countries around the world. E-waste produced in India comprises of 70% of computer devices, 12% in Telecom sector, 8% Medical Equipment, and 7% Electrical equipment. And as per the market survey, the reuse of Electronic Equipment waste in India is estimated at 10-15% while the rest of the E-Waste is going for Raw Material Extraction Recycling. While e-waste recycling is a source of income for many people in India, it also poses numerous health and environmental risks. More than 95% of India’s e-waste is illegally recycled by informal waste pickers called kabadiwalas or raddiwalas”, says Venkatesh Rao, Managing Director, Xfurbish.
Having set its foot firmly in India with offices at 27 geographical locations and 500+ vendors, more than 1.5 lakhs products and 3,000 happy and repetitive customers, the company has set up its international associates in UAE, Nigeria, to be followed soon in UAE, USA, Srilanka, Bangladesh & Malaysia. Xfurbish is looking at increasing the share of refurbished equipment’s in the current market at least by 30-40% by the end of the financial year 2021.
The whole Idea of Xfurbish is to penetrate every corner of the world, individuals, companies, and organizations, creating the right revenue for e-waste instead of recycling. The platform is not only providing the much needed e-commerce platform, also avidly educating the individuals to reuse the electronic waste, giving them the Xfurbish protection and encourage sellers through authorized partner program.
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