Wednesday, February 16, 2011

ecoATM Raises $14.4M

San Diego-based ecoATM, a startup which develops automated kiosks for evaluating and buying back consumer electronics, announced today that it has raised $14.4M in funding in a combination of its Series A funding and venture debt. The funding came from Coinstar and Claremont Creek, along with venture debt from Silicon Valley Bank. Randy Hawks of Claremont Creek, and Gary Cohen, Senior Vice President of Marketing and Customer Experience at Redbox, join the firm's board as part of the funding. Redbox, which provides video rental kiosks at grocery stores and other locations, is a subsidiary of Coinstar. ecoATM said the new funding will go towards commercialization and product launch. More information »

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