EcoATM Fundraising Raised $17 Million


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EcoATM raised $17 million in its second round of venture funding. The company makes machines that buy back used mobile phones and other portable electronic devices.

Several firms gave money for their fundraising and EcoATM also got a "Phase II" grant from the National Science Foundation worth up to $1 million as one of 60 grants the National Science Foundation gave from 171 proposals it got last summer.

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    Co-founders William Mann and David Mravyan devised the Sensimat during a mandatory project for their MBA at the Richard Ivey School of Business in Canada. Sensimat is a device that helps manage and assess pressure among wheelchair users.




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