Carousell Group announced yesterday (July 26) that it has acquired control of Laku6, an Indonesia-based AI-first end-to-end electronics recommerce platform, as part of its vision to make secondhand a priority choice for users.
This acquisition is a joint partnership with Heliconia Capital, one of Carousell’s investors, in which they both committed US$25 million to invest in and gain control of Laku6.
This move is intended to accelerate circularity in electronics and serve the rapidly-growing secondhand phone market, fuelling growth in the Greater Southeast Asia’s electronics recommerce industry.
“The electronics recommerce opportunity is one that is a win-win-win: great for users with affordable like-new devices, beneficial to the environment as people sell and buy secondhand instead of new, and an exciting business opportunity with over 2.5 times the electronics re-commerce growth potential ahead,” said Quek Siu Rui, co-founder and CEO of Carousell Group.
Carousell currently sees about two million new listings in its electronics category, making it one of the largest platforms to transact used electronics and in particular, mobile phones.
What does Laku6 do?
Laku6’s proprietary AI-first diagnostic technology can remotely inspect the condition of secondhand mobile phones in just under two minutes.
By utilising this technology, it allows consumers to encash their phones in as quick as an hour, making selling more efficient.
The proprietary solution is able to remotely inspect both software and hardware functionalities. This also includes visible screen damage, hence quickening the inspection process and cementing the credibility buyers and sellers might need.
With Laku6’s proprietary solutions, pricing algorithms, and instant cash service integrating into Carousell’s wide user network, it will make buying and selling used electronics more accessible than before for millions of users.
With Laku6’s proprietary solutions, pricing algorithms, and instant cash service integrating into Carousell’s wide user network, it will make buying and selling used electronics more accessible than before for millions of users.
By making it easier for users to sell their idle devices and buying certified used devices, both companies aim to extend the life cycle of electronic goods, thereby slowing down the growth of toxic e-waste.
“With Carousell’s scale and investment, we are well-placed to create a winning formula and offer our proven solutions to a very large audience of end-users and merchants,” said Alvin Yap, founder and CEO of Laku6.
Prior to Laku6, Carousell recently acquired yet another recommerce company in May 2022, but in the fashion space, namely Refash.
Featured Image Credit: Carousell Group