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

Recur Club Announces Credit Offerings for Startups Beyond Series A and SMEs

In FY 24–25, the platform also plans to deploy an additional INR 2000 crores through its Recur Swift program for startups.

News and Trends

India's Data Center Capacity to Reach 2,070 MW by End of 2025: CBRE

Cumulative investment commitments in the data center sector in India to cross USD 100 billion by 2027. Mumbai, Chennai, and Delhi-NCR to lead data center supply addition

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

News and Trends

Supply-Chain Financing Platform Mintifi Raises USD 180 Mn in Series E, Valuation Soars to USD 850 Mn

The raised funding will enable Mintifi to diversify its product offerings, such as dealer management systems, loans against property, and factoring services, powered by artificial intelligence.

Business News

I Tried Buying a Car on Amazon. Here Are the Pros and Cons.

Amazon Autos just launched, and users can buy a new car online. Here's how it works and what needs to improve.

News and Trends

Aampe Gains USD 18 Mn from Theory Ventures and Z47 to Enhance Digital Product Personalisation

With the new funding, Aampe plans to double its workforce to meet the growing demand for its agentic infrastructure. The company aims to onboard more customers and streamline the integration of its technology into their workflows.