How Xfurbish is making an impact via its unique concept? Read the success story of Xfurbish
Xfurbish, an e-waste refurbish start-up launched in January 2020, has created its success story in the very first year of its operations with a staggering profit of over 30%. An idea to execution story in creating a world-class in-house team and creating a market place for the refurbished unorganised market, this is one of the startups to watch for, registering a year on year growth of almost 75 per cent. Let us take a look at the success story of Xfurbish, and an e-waste refurbish startup.
While talking to us the visionary founder Venkatesh Rao K said, “Electronic Waste is emerging as serious public health and environmental issue in India. India is the “fifth-largest electronic waste producer in the world”; approximately 5.2 million tons of e-waste are generated annually and an undisclosed amount of e-waste is imported from other countries around the world. E-waste produced in India comprises 70% of computer devices, 12% in Telecom sector, 8% Medical Equipment, and 7% in Electrical equipment. And as per the market survey, the reuse of Electronic Equipment waste in India is estimated at 10-15% while the rest of the E-Waste is going for Raw Material Extraction Recycling. While e-waste recycling is a source of income for many people in India, it also poses numerous health and environmental risks. More than 95% of India’s e-waste is illegally recycled by informal waste pickers called kabadiwalas or raddiawalas.”
How it is operating in India?
To your surprise, India is the fifth biggest producers of E-waste all across the world. Notably, 45 million e-waste is generated all across the world every year. According to reports, it is expected to increase to 52.2 million in the next 2 years. In that case, we need such solutions.
The firm has set its foot firmly in India with offices at 27 geographical locations and 500+ vendors, more than 1.5 lakhs products and 3,000 happy and repetitive customers, the company has set up its international associates in UAE, Nigeria, to be followed soon in UAE, USA, Srilanka, Bangladesh & Malaysia. Xfurbish is looking at increasing the share of refurbished equipment’s in the current market at least by 30-40% by the end of the financial year 2021.
The whole Idea of Xfurbish is to penetrate every corner of the world, individuals, companies, and organizations, creating the right revenue for e-waste instead of recycling. The platform is not only providing the much-needed e-commerce platform but also avidly educating the individuals to reuse the electronic waste, giving them the Xfurbish protection and encourage sellers through an authorized partner program.
Why Xfurbish is educating people to set the right revenue for e-waste instead of recycling?
The startup is focused on educating people to set the right revenue for e-waste instead of recycling because recycling is an ineffective way to manage e-waste. According to research, 95 per cent of e-waste in India finds its way to scrap dealers who are least bother about the environment or the safety of the workers extract the most valuable components from such waste. Since India is a relatively poor country, a lot of people sell their equipment which is no longer needed. However, eventually, the value of such equipment makes it more profitable to extract minerals, metals and plastics in them. Notably, the process which is used to extract minerals from the e-waste is not only harmful to the extractor but also to the environment. Refurbishing is the only responsible way to dispose of such waste.
Check out their official website: https://www.xfurbish.com/laptops
Where you can find all the important information. Be it about their brands tie to how they operating.
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