stc Group’s corporate venture arm, Tali Ventures, has led a $10 million Series B funding round for NorthLadder, a prominent trade-in platform for pre-owned devices. With additional investments from Dutch Founders Fund and Crescent Ventures, this funding aims to support NorthLadder’s global expansion and enhance its AI-powered trade-in platform.
Founded by Sandeep Shetty, former Managing Director of Careem’s Ride-Hailing business, NorthLadder has swiftly scaled across 10 countries in the past 18 months. The platform serves telecoms, retailers, and OEMs, offering a unique auction-based system that maximizes device value and drives sustainability in the resale market. Shetty expressed enthusiasm about the funding’s role in advancing circular economy goals, emphasizing NorthLadder’s mission to “deliver a world-class platform offering the best residual values globally.”
Majed I. Aljarboua, stc’s Corporate Fund and Entrepreneurship GM, stated that this investment aligns with Tali Ventures’ mission to foster sustainable tech innovation, noting NorthLadder’s pivotal role in promoting circularity in electronics.
The pre-owned smartphone market is projected to grow rapidly, and NorthLadder’s expansion is strategically positioned to meet this demand.
