May 1st ecoATM announced they had raised an additional $17 million in a second round. Current investors Claremont Creek Ventures, Coinstar, Inc. and TAO Ventures all increased their investments while new investors joined the syndicate. New investors include PI Holdings, Moore Venture Partners, AKS Capital and Singapore billionaire Koh Boon Hwee.
The announcement generated a lot of interest and was well covered in both the financial and hi-tech press. Some examples of the coverage include:
CNN Money/Fortune, 5/1/12
An ‘ATM' for your old phone
http://finance.fortune.cnn.com/2012/05/01/an-atm-for-your-old-phone/. (Dan Primack interviewed Tom.)
VentureBeat, 5/1/12
Get money for your crappy old phones
http://venturebeat.com/2012/05/01/ecoatm-cashes-in-on-17m/ (Sarah Mitroff interviewed Tom.)
Dow Jones/Venture Wire, 5/1/12
EcoATM Collects $17M For National Electronics recycling Program
http://pevc.dowjones.com/article?an=DJFVW00020120501e851ayjg1
(Note: VentureWire is subscription-based.)
Techcrunch, 5/1/12
ecoATM Raises $17M From Coinstar And Others For Electronics Recycling And Resale Kiosk System
http://techcrunch.com/2012/05/01/ecoatm-raises-17m-from-coinstar-and-others-for-electronics-recycling-and-resale-kiosk-system/ (Leena Rao interviewed Tom.)
Xconomy, 5/1/12
San Diego's ecoATM Raises $17M as it Builds Recycling Cash Machine
http://www.xconomy.com/san-diego/2012/05/01/san-diegos-ecoatm-raises-17m-as-it-builds-recycling-cash-machine/ (Bruce Bigelow interviewed Tom.)