Zension Technologies Secures $30 Million in Series A Funding
- Zension Technologies has announced raising $30 million in a Series A funding round, supported by Wa’ed Ventures, Sumitomo, and Global Ventures.
- The funding will support the launch of Zaam, a platform based on the circular economy model for owning tech devices.
- Zaam contributes to extending the lifecycle of smart devices and reducing electronic waste by repurposing devices and utilizing their residual value.
Zension Technologies, a consumer electronics startup, announced the closing of its $30 million Series A funding round, led by Wa’ed Ventures, a subsidiary of Saudi Aramco, along with Japan’s Sumitomo and Global Ventures.
Launching the Zaam Platform
With this fresh capital, Zension is gearing up to launch Zaam, a platform built on the principles of a circular economy. Zaam offers customers affordable monthly subscriptions designed to maximize the utility of electronic devices throughout their lifecycles.
Each device in the ecosystem is automatically repurposed, providing residual value to customers. The platform leverages an advanced pricing engine that employs real-time data and predictive analytics to forecast upgrade behaviors and determine device value.
Zension: A Future-Driven Vision
Founded in 2018 and headquartered in Dubai, Zension Technologies delivers innovative solutions such as warranties, device buyback programs, and technical upgrades.
The recent funding will support Zension’s efforts to expand its operations and develop its new platform, enhancing its market presence and advancing sustainability goals.
Sustainable Solutions
Zension Technologies takes a pioneering approach to reducing electronic waste by extending the lifecycle of smart devices. Its integrated solutions, which include warranties, buyback services, and tech subscriptions, contribute to promoting environmental sustainability while addressing the challenges of electronic waste.
The company’s mission aligns with broader efforts to create a more sustainable future for the consumer electronics industry.