Wednesday, August 11, 2010

ecoATM Gets Funding From Coinstar

San Diego-based ecoATM, a developer of automated kiosks for recycling cell phones and other electronics, has scored a strategic investment from kiosk maker COinstar. Financial details of the deal were not announced. Coinstar announced the investment Wednesday, saying that ecoATM's technology is "innovative and compelling" and that it believes ecoATM "could be a viable business". ecoATM was the winner of a contest run by Coinstar in 2009 focused on finding innovative ideas for kiosks. The firm also was a winner at the San Diego Venture Group's annual Pitchfest last year. ecoATM has previously raised funding from Tao Venture Capital Partners, and is headed by Tom Tullie, former COO of AMCC. More information »

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