# Electrobac

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/electrobac

- Industry: Environmental Services
- Headquarters: Montreal, Canada
- Website: www.electrobac.com
- Total disclosed funding: $1M
- Latest round: Seed (Aug 15, 2018)
- Investors on record: 2

## About

Electrobac Inc. is a Montreal-based company focused on innovative e-waste recycling solutions. It enhances electronic waste collection through its smartbin technology, promoting responsible recycling practices across various markets.Electrobac Inc. was founded in 2011 and specializes in e-waste management through its smartbin technology. The company is headquartered in Montreal, Canada. The founder, Philip Bénard, has a history of entrepreneurial involvement but specific prior ventures are not detailed. Electrobac raised USD 1 million in Seed funding in August 2018 from investors Fondaction CSN and Ecofuel, which brought the total amount raised to USD 1 million. The company has completed one deal to date.Electrobac specializes in e-waste recycling solutions, primarily through its innovative smartbin technology. These smartbins facilitate the collection and recycling of electronic waste by providing users with a convenient and efficient way to dispose of their old electronic devices. The smartbins are strategically placed in various locations, targeting urban centers and community hubs to maximize accessibility for consumers and businesses alike. This solution addresses the significant issue of e-waste by promoting responsible recycling practices among end users, which include individuals, small businesses, and large corporations. The product offerings are currently available in multiple geographical markets, including major metropolitan areas across North America and Europe, where the demand for sustainable e-waste management is increasingly recognized.Electrobac generates revenue through the deployment of its e-waste smartbins, operating primarily on a partnership model with local municipalities, businesses, and retail sectors. Clients enter into agreements to host smartbins at their locations, enabling them to provide a valuable service to their customers while participating in sustainable practices. The revenue structure includes transaction fees or service fees associated with the collection and processing of e-waste, as well as potential subscription models for ongoing service and maintenance of the smartbins. By focusing on partnerships with environmentally-conscious retailers and organizations, Electrobac positions its smartbin service as a crucial element in their sustainability initiatives, thereby enhancing the overall value proposition for both clients and end users involved in e-waste recycling.Electrobac plans to utilize the USD 1 million raised in Seed funding from August 2018 to support its growth initiatives. The company is designing new smartbin models that are expected to launch in the coming years, enhancing the user experience in e-waste disposal. Additionally, Electrobac aims to expand its operations into new geographical regions, with a focus on increasing its presence in Europe by 2024. These strategies are intended to leverage the growing demand for responsible e-waste management solutions.

## Funding rounds

- Seed, Aug 15, 2018, $1M — Fondaction CSN, Fonds Ecofuel

## Investors

- Fondaction CSN — Seed
- Fonds Ecofuel (https://capitalatlas.ai/funds/fonds-ecofuel) — Seed