Get All Access for $5/mo

Artha India Ventures Invests In African Startup Badili This marks AIV's first investment in Africa and eleventh international investment that covers Israel, USA and Israel

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

Artha India Ventures (AIV), the family office of Ashok Kumar Damani, has announced a pre-Seed investment in Badili, Africa's first online buy-back platform for smartphones, based in Kenya. This marks AIV's first investment in Africa and eleventh international investment that covers Isreal, USA and Africa. Investors such as Rajesh Sawhney, Ritesh Malik, SOSV, Uncovered Fund and Grenfell Holdings also participated in the funding round.

Badili is a re-commerce startup for old mobile phones. The company buys phones from a user, refurbishes and sells them to the consumers looking for a cheaper alternative to a new phone with equivalent features. According to a statement by the company, Badili has a serviceable market of more than 130 million second-hand smart phone users in Africa and the startup expected to reach a user base of 60 million by 2023.

"We have received a tremendous response from the African startup ecosystem and look forward to invest in 4 to 5 Africa-focused startups every year. Moreover, we are not limited to Seed rounds and have expanded our investment strategy to pre-Series A and Series A rounds for this important continent," said Anirudh Damani, director, AIV.

As per reports, on the ecological front, India is one of the highest e-waste generating nations in the world, of which 12 per cent can be attributed to smart phones. Badili aims to limit the adverse impact of used phones and transact 100 million used phones annually by 2026.

"With over 20 per cent of smart phone users in Kenya opting for second-hand smart phone devices, we have identified a clear demand in this segment. So much so that we have partnered with various suppliers across countries, leading with India that can enable us to meet the initial demand," said Rishabh Lawania, founder and CEO, Badili.

Founded in 2012, Artha India Ventures has a portfolio of over 75 companies across India, USA, Israel and Africa. It has a sector-agnostic investment outlook in segments such as edtech, e-commerce, auto and healthtech amongst others.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
News and Trends

"45% of All Ongoing Hydropower Projects in India are Ours": Patel Engineering

Patel Engineering reported a turnover of INR 4,400 crore in the last fiscal year, with a projected 10 per cent growth for the current year.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Living

70% of Small Business Owners Experience Monthly Burnout. Follow These 3 Rules to Avoid the Same Fate.

Here are three guidelines to help entrepreneurs achieve balance, growth and success in both their professional and personal endeavors.

Science & Technology

Why Businesses Are Relying on Automation to Survive the Labor Crisis

Robots are revolutionizing industries by addressing labor shortages and enhancing efficiency, while businesses navigate challenges like workforce adaptation and high implementation costs.

Leadership

Visionaries or Vague Promises? Why Companies Fail Without Leaders Who See Beyond the Bottom Line

Visionary leaders turn bold ideas into lasting impact by building resilience, clarity and future-ready teams.