Fairphone gets EUR 6.5 mln capital injection

News Wireless Global 25 SEP 2017
Fairphone gets EUR 6.5 mln capital injection

Fairphone, the producer of smartphones under the same name, announced a capital injection of EUR 6.5 million to improve the sustainability of its products and production. The capital comes from the foundation Stichting DOEN and investment fund Pymwymic ('Put Your Money Where Your Meaning Is Community'). 

Fairphone said it will use the money to improve its entire production process, making its smartphones more sustainable, fair and socially just. This includes for example using minerals mined without harming the environment, safe and fair working conditions for production staff and an end-product that can be fully recycled. 

Fairphone has launched two smartphones already, with the second model partly based on modules in order to ease repairs. 

Categories:

Mobile

Companies:

Fairphone

Regions:

Global

Tags:

Consumer, Handsets, Financial funding, Corporate social responsibility

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