Revivo, a firm with headquarters in Kenya that offers a B2B marketplace for consumer electronic spare parts, has announced a pre-seed fundraising round worth US$635,000 to aid in its growth.
Revivo is an online marketplace for high-quality electronic spare parts, accessories, and repair tools that was established in 2022 by Sarah Johnson. By addressing the needs of small businesses that perform the vast majority of repairs, Revivo aims to increase access to high-quality and reasonably priced electronics repairs in emerging markets.
The business makes it simple for repair companies to find the supplies and items they require through its platform.
For their consumers, Revivo provides clear pricing, access to fresh product sources, assured quality, educational resources, and embedded finance.
The firm has so far sold more than 45,000 products to thousands of clients and is forging alliances with important original equipment manufacturers and e-waste recyclers.
As a result of its work, it has received numerous awards, including one from the TomKat Center for Sustainable Energy at Stanford, and is currently the beneficiary of a US$635,000 pre-seed round supported by Raba Partnership, Village Global, Musha Ventures, Satgana, and strategic business angels.
“Products like a smartphone or a solar home system can change lives. However, the reality is that these products remain unaffordable for many people and have damaging environmental impacts.
By building a strong repair economy we can make the use of these devices more affordable while reducing their negative impact. I believe this is a huge opportunity, and the marketplace is just the beginning,” Johnson said.
Anil Maguru, partner at Satgana, said he was delighted to support Revivo in “pioneering the repair economy in Africa while empowering small shop owners”.
“From the beginning of our interaction with her, we knew that she was the kind of founder who was able to make a real difference in the green growth of the continent, as enabling electronics repairs is critical to extending devices lifespan, hence reducing carbon emissions and electronic waste, so as to foster green growth across the continent.
We are looking forward to working alongside our fabulous co-investors to contribute to making Revivo a category-defining and mission-driven company,” he said.