EcoATM nabs $17M, National Science Foundation grant

EcoATM hauled in $17 million in venture capital investment.

EcoATM hauled in $17 million in venture capital investment.

EcoATM, which makes machines that buy back used mobile phones and other portable electronic devices, raised $17 million in its second round of venture funding.

Oakland, Calif.-based Claremont Creek Ventures gave money in the round, as did Bellevue, Wash.-based Coinstar Inc. (NASDAQ: CSTR) and TAO Ventures. All three are previous investors.

Randy Hawks of Claremont Creek sits on EcoATM’s board of directors. He lives in Oakland and also sits on the board at Billeo Inc. in Santa Clara, ShotSpotter (SST Inc.) in Mountain View, Sentilla Corp. in Redwood City and Element Energy Inc. in Los Altos.

Some new firms gave money, too — PI Holdings, Moore Venture Partners, and AKS Capital -- as did Singapore billionaire Koh Boon Hwee.

The San Diego company also got a “Phase II” grant from the National Science Foundation worth up to $1 million. It’s one of 60 grants the NSF gave from 171 proposals it got last summer.

Tom Tullie is chairman and CEO of EcoATM.

From the San Francisco Business Times.


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