Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Technology
Anusuya Lahiri

This Gadget-Rental Firm's Latest Fundraising Earns It Unicorn Status

Grover (Organization) United States Apple Microsoft Corp Wall Street Journal New York
  • Grover Deutschland GmbH raised $330 million at a valuation of over $1 billion, the Wall Street Journal reports.
  • In a Series C round led by Energy Impact Partners, Grover raised $110 million in equity and $220 million in debt.
  • The New York-based sustainability-focused investment firm provided $28 million in equity.
  • Grover looks to utilize the proceeds to hire over 100 people in the U.S., mostly software engineers and product professionals, and advertise its service.
  • The fundraising positioned the company renting out smartphones and other devices to expand in the U.S., its fastest-growing market.
  • Grover runs an e-commerce platform to rent more than 3,000 products, including Apple Inc (NASDAQ: AAPL) iPhones and Apple Watches and Microsoft Corp (NASDAQ: MSFT) Xbox videogame consoles.
  • Grover offers only products that are durable and can be repaired, avoiding low-cost devices.
  • Grover's business-to-business rental service accounts for 15% of Grover's subscriptions. Grover looks to increase that figure to 40%.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Why do I poo in the morning? A gut expert explains
No, you’re not imagining it. People really are more likely to poo in the morning, shortly after breakfast. Researchers have actually studied this.
The Conversation
The Conversation
The Dark Side of Alexander Hamilton
The first treasury secretary's plans would have created cartels that mainly benefited the wealthy at the expense of small competitors.
Reason
Reason
Dating apps took over my life – so I ditched them and learned to live in the moment
I used to remove myself from experiences in favour of chasing matches. Now I’m fulfilled by the company of real people, says freelance writer Anya Ryan
The Guardian - UK
The Guardian - UK
Miranda Lambert's porch color offers a unique selling point that improves curb appeal, according to experts
The country musician contrasts rustic, wood porch details with gray-painted floorboards – a move that experts say is a win
Homes & Gardens
Homes & Gardens
DNA data preserved in amber-like polymer by MIT scientists — Jurassic Park inspires new long-term 'T-REX' preservation method
New DNA storage method based on Jurassic Park stores DNA in an amber-like polymer. Unlike previous styles which freeze DNA or embed it in silica, the amber method is easy to embed and extract, and is highly scalable.
Tom’s Hardware
Tom’s Hardware
Martha Stewart says this exact shade of gray is her 'signature color' – she uses it in abundance around her Bedford home
'There is a definite gray theme here at the farm': Here's the specific hue she uses to ensure her home is as personal as it is good-looking
Homes & Gardens
Homes & Gardens
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play