A marketplace that enables consumers to buy and sell used mobile phones has fully launched after raising £2.9 million in seed funding.

Headquartered in London with operations in Birmingham, India and Brazil, Doji employs 25 tech specialists and has welcomed 2,000 registered users to its marketplace within six months during a beta stage.

With an estimated 55m phones valued at £16.5 billion lying dormant across UK homes, the marketplace plans to accelerate growth month-on-month throughout 2022.

“At Doji, we are building a world class team to provide a platform that will enable everyone to unlock the true value of their tech, through a simplified and convenient process. Our goal is to deliver the fairest possible deal for the buyer and the seller,” said CEO and co-founder Fernando Montera.

The seed investment – which was led by Brazilian venture capital firm, Canary, together with Norte Ventures, 1289 Capital and several prominent angels – will be utilised to strengthen its tech, product and operations teams.

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Co-founder Satyen Fakey added: “We plan to further accelerate the addressable market growth of used tech through a frictionless and seamless experience that will engage millions of individuals worldwide.”

“Our potential for global growth is, therefore, huge and we are excited to have received early recognition from leading VCs.”