Berlin The Berlin start-up company Grover, which offers electronic devices for rent, has defended its billion-dollar valuation achieved in the spring with a new round of financing. In an investment climate that has generally cooled down sharply for start-ups, the Berlin-based company managed to collect fresh money from venture capitalists again. The company is receiving a EUR 270 million asset-backed loan from the financial investor M&G, the company announced in Berlin on Wednesday.
At the beginning of April, a group of investors led by the Energy Impact Partner fund had already made 300 million euros available to Grover. With this financial injection, Grover exceeded the valuation threshold of one billion US dollars at the time. Grover would not provide details of the current valuation on Wednesday. But you are still a unicorn, so worth more than a billion.
The start-up offers the rental of technical hardware – similar to the leasing of cars. The range includes popular electronic devices such as smartphones or game consoles to notebooks or drones.
The company is primarily aimed at interested parties who only need certain devices temporarily, for example a drone for aerial photography during a stand holiday. Grover is competing with other technology rental companies such as Utiluru and Gearflix.