Kyle
Over the past few years, reuse has become. $250 million dollar industry. In the United States there are over 1200 reuse stores.
Reuse stores, like the Habitat for Humanity Re-Store, sell used or overstocked building supplies, and household goods at a huge discount to get these items out of landfills and repurposed for other projects. Reuse stores sell anything from wooden wall paneling to electrical outlets and everything on between. Yes, reuse stores also sell kitchen sinks.
InvenQuery, an offshoot from Kansas City startup, PlanetReuse. PlanetReuse, as you can probably tell by the name, is also in the reuse industry.
InvenQuery offers web, and mobile solutions for inventory and store management for the reuse industry. The startup reported last week, that they have raised $1.1 million dollars this year. Earlier in the year the company raised $450,000 in an angel round. They recently closed a $650,000 series A round for Dundee Venture Capital of Omaha Nebraska.
“Making e-commerce and inventory management simple for an industry that has historically lacked technology tools will transform the way people shop for used building materials,” says Dundee Venture Capital Founder Mark Hasebroock. “We see tremendous potential in InvenQuery for retailers of unique items.”
The idea is simple and the results could be revolutionary: millions more pounds of usable surplus materials kept out of local landfills. A stark contrast to the nearly 40% of U.S. landfill waste that comes from building construction and demolition waste today. Plus more profits are generated for the social missions of non-profit reuse centers. If HDTV, Pinterest and the $250 Billion per year Lifestyles of Health and Sustainability (Lohas) U.S. consumer segment are any indication, reuse is one trend that will last.
“We are thrilled to partner with Dundee Venture Capital,” said InvenQuery Founder Nathan Benjamin. “Mark Hasebroock and his team bring deep expertise in e-commerce and web services that will accelerate our success in the reuse industry and in subsequent vertical markets we are researching like surplus materials from construction and demolition projects that get lost in warehouses.”
“As more and more reuse centers use InvenQuery to showcase their inventory live online on PlanetReuse Marketplace, the $250 Million reuse industry will become more top-of-mind and ultimately an easy alternative to explore before buying new materials through the $110 Billion new material home improvement industry,” said InvenQuery partner Willow Lundgren.
Linkage
Checkout InvenQuery Here.
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