Nimble, An Eco-Friendly Electronics Startup, Raises $2.5 Million in Capital

USA - English

• USA - English

COSTA MESA, Calif., Nov. 14, 2018 /PRNewswire-PRWeb/ -- Nimble (Nimble for Good, PBC)--a consumer tech brand committed to creating sustainably made electronics--announced its equity round investment of $1.5 million led by Okapi Capital, with additional funding provided by early stage investor, PivotNorth Capital. The financing will be used to fund all Nimble's initial costs, including product development, production, distribution and marketing. Jeff Bocan, partner at Okapi, and Tim Connors, general partner at Pivot North, have also joined Nimble's board of directors.

"Nimble is uniquely positioned to quickly capture share of a market dominated by expensive in-store brands burdened by high retail margins or cheap Internet-only Chinese-factory brands. Nimble provides consumers well designed and inspired products, with great customer service and at competitive prices,"said Bocan. "We are so proud to be a part of Nimble's mission, and ecstatic about what the team has accomplished so far — launching a suite of superior products to market in only a few short months."

"Thanks to Okapi's vision, and PivotNorth's belief in our mission, we're able to concentrate on bringing better technology to consumers, and scaling our business, " said Ross Howe, Co-founder and CEO at Nimble. "We're thrilled to have partners that not only provide capital, but extensive strategic experience within our market."

Nimble secured an additional $1 million in financing through a subsequent debt round from Silicon Valley Bank. This will allow Nimble to fund increased inventory production, including its expansion into product categories beyond Nimble's currently available portable and wireless charging lineup.

"At SVB, we are fortunate to have the opportunity to work with many innovative startups," said Derek Hoyt, Managing Director at Silicon Valley Bank. "We're enthusiastic to support Nimble and the direction it's taking."

Founded in 2018, Nimble designs and produces personal technology products using more sustainable materials such as plant-based bioplastics, organic hemp and recycled plastic bottles. All its packaging is made from 100% recycled paper, and includes a pre-paid return envelope so customers can send old or unused electronics to its recycling partner for safe, responsible reclamation at no added cost. By selling online-only, Nimble is able to offer customers its products at half the price of competing retail store brands.

About Nimble

Nimble is a California-based company and creator of ethically-produced technology products, with a strong focus on transparency and improving social and environmental standards of the consumer electronics industry. To learn more, visit gonimble.com or @nimbleforgood

About Okapi Capital:

Okapi Capital provides long-term capital and management support to start-ups. We take pride in partnering with exceptionally talented entrepreneurs and operational executives to develop their emerging businesses. Okapi Capital is based in Laguna Beach, CA. For more information, please visit okapivc.com

About PivotNorth Capital

PivotNorth Capital works to be the first and most-trusted investor in world-class technologists solving problems of importance to society. The firm's founder, Tim Connors, has had billion dollar exits as an operator and as a VC both via M&A and IPO. Pivot North is based in Menlo Park, Calif. More information: pivotnorth.com @PivotNorth @timc

About Silicon Valley Bank

For 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.

SOURCE Nimble