Founded Year

2015

Stage

Series C | Alive

Total Raised

$2.034B

Valuation

$0000 

Last Raised

$110M | 1 mo ago

Revenue

$0000 

About Grover

Grover offers an on-demand subscription alternative to gadget ownership. The company provides consumers and businesses with the option to consume the latest tech on a monthly rental basis with the advantage that they can switch or upgrade at any time, depending on their individual needs. Grover is an advocate of the Circular Economy, contributing to the reduction of technology underutilization and e-waste through product recirculation. It was founded in 2015 and is based in Berlin, Germany.

Grover Headquarter Location

Holzmarktstrasse 11

Berlin, 10179,

Germany

+49 303 080 82 51

Grover's Product Videos

Grover-M18_iphone12pro-0100_v4 (1).jpg

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Grover's Products & Differentiation

See Grover's products and how their products differentiate from alternatives and competitors

  • Consumer electronics rental

    Grover is the European leader in consumer electronics rental commerce, offering its users access to the latest technology in a flexible, monthly subscription model. Founded in 2015 by Michael Cassau, Grover's mission is to find innovative new ways to give people access to the technology they want. Both consumers and businesses can choose from more than 3,000 tech products - from smartphones and laptops to gaming, VR and smart home gadgets. Grover's service allows its users to keep, change, buy or return products according to their individual needs.

    Differentiation

    Renting out consumer electronics to multiple users throughout their lifecycle, enabling them to extract maximum value from each product and reduce e-waste. Grover has circulated a total of around 60… 

    Grover is transforming the 

    way people access and enjoy tech 

    Main benefits: 

    low price, 

    no debt, 

    flexibility, 

    convenience, 

    damage cover, 

    option to buy, 

    easy return, 

    good for the environment 

    Fast and convenient access to all the tech products people need to work, play and connect 

    Peace of mind through flexibility and damage cover 

    Grover is helping to reverse the 

    global e-waste trend and build towards a more sustainable future. 

    We are the next gen tech consumption enabler providing complete flexibility… 

Research containing Grover

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Grover in 2 CB Insights research briefs, most recently on Apr 11, 2022.

Expert Collections containing Grover

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Grover is included in 4 Expert Collections, including E-Commerce.

E

E-Commerce

9,680 items

O

On-Demand

1,231 items

S

Smart Home & Consumer Electronics

1,086 items

This Collection includes companies developing smart home devices, wearables, home electronics, and other consumer electronics.

U

Unicorns- Billion Dollar Startups

1,112 items

Grover Patents

Grover has filed 6 patents.

The 3 most popular patent topics include:

  • Acoustics
  • Deck arch bridges
  • Light-emitting diode manufacturers
patents chart

Application Date

Grant Date

Title

Related Topics

Status

12/24/2020

3/22/2022

Lighting, Acoustics, Stage lighting, Deck arch bridges, Light-emitting diode manufacturers

Grant

Application Date

12/24/2020

Grant Date

3/22/2022

Title

Related Topics

Lighting, Acoustics, Stage lighting, Deck arch bridges, Light-emitting diode manufacturers

Status

Grant

Latest Grover News

If We Could Rent iPhones, Would That Help Save the Planet?

Apr 20, 2022

By Adam Minter | Bloomberg By Adam Minter | Bloomberg Today at 12:00 p.m. EDT SINGAPORE, SINGAPORE - SEPTEMBER 24: Models of the newly released iPhone 13 are displayed at the Apple Store at Orchard Road on September 24, 2021 in Singapore. Apple announced September 14 the release of four variants of its latest iPhone 13, alongside other upgrades to its product lineup. (Photo by Feline Lim/Getty Images) (Photographer: Feline Lim/Getty Images AsiaPac) Placeholder while article actions load In 2015, German entrepreneur Michael Cassau was in need of some gadgets for an apartment he was planning to occupy for a few months. Buying seemed wasteful, considering the cost of new devices and the environmental impact associated with manufacturing new ones. But renting, an obvious option, simply wasn’t available. So Cassau founded Grover Group GMBh, a gadget rental company based in Berlin. Seven years later, it’s renting out 500,000 gadgets, mostly around Europe, and it just raised $330 million for a $1 billion valuation. It’s rare when what’s good for the pocketbook is also good for the environment. Grover, along with other companies offering rental and subscription services, is hoping to achieve both. For now, the most likely outcome is that consumers will benefit, while the environmental outcomes are marginally better, at best. Advertisement But that’s just the short term. Grover and other companies are betting on a long-term shift from ownership to hardware rental and subscriptions. If they’re even remotely correct, the global technology industry will need to shift to accommodate them. In time, that shift will drive the development of greener devices and more sustainably minded companies. Device rental isn’t a new idea. In the 1980s, business productivity devices like photocopiers and fax machines were typically rented due to their high upfront costs (faxes started around $2,500) and the potential for expensive maintenance. It was only in the 1990s, as the cost of technology declined, that many business consumers opted for purchase. If a fax machine broke down, it could always be replaced with another $300 one. That cheap technology was good for productivity and the bottom line of manufacturers and their customers. But cheap technology came with a new set of problems. As manufacturing costs declined, so too did the durability of devices. What’s left behind are piles of unwanted gadgets that were designed to be upgraded, not repaired. That, in turn, creates pressure to manufacture more stuff. Advertisement According to Apple Inc., 81% of the carbon emissions associated with the full life cycle of the iPhone 13 are generated during the production process (which includes the extraction of raw materials). That’s a hard number to lower: Production accounted for 83% of the carbon emissions associated with last year’s iPhone 12, despite genuine advances in the use of recycled materials like rare-earth elements between the two most recent models. The good news is that consumers have a simple means of lowering the carbon and other environmental stressors related to gadgetry: Use devices for longer. By delaying an upgrade just one year, a user displaces the production of a new device and its environmental impacts. That displacement can add up. A recent European study examined the life span of every phone bought and used in the European Union over a decade. If the total life cycle of each of those phones was extended by one year (over the 21.6-month average at the time of the study), roughly 20 million tons of carbon would be saved. Advertisement Enter device rental services. “The sustainability impact for us is aligned with profitability,” explained Thomas Antonioli, Grover’s CFO, in a call from Berlin a few days after announcing its latest fundraising round. “Because the longer we can keep a device in a rentable state, keep it in circulation, the better it is for us.” The service is straightforward. A customer chooses the rental duration, and has the option along the way to purchase the device outright (around 10% do). Across the entire product line, the average rental duration is one year, and devices circulate for 3–4 years. For phones, that’s a life cycle far longer than the duration that most first owners hold onto phones. But in the age of the $1,000+ smartphone, it’s the rare handset that only has a first owner. These days, secondhand phones are the fastest-growing niche of the global smartphone industry (and second owners are more common than first owners). So long as that secondhand option exists, it’s unlikely that rental is playing a meaningful role in extending the life cycle of today’s devices. Advertisement But that doesn’t mean rental won’t have an environmental impact. Grover, like other rental services, isn’t interested in short-lived devices that need expensive repairs. Instead it seeks out durable devices that will last longer without maintenance. Grover’s purchases alone won’t suffice to shift technology companies from making devices designed for brief life spans. But it’s far from alone in seeking those devices. By one estimate, device rental could be a $500 billion business by 2028. If that emerges, the market pressure to build durability for rentals will be overwhelming. It won’t just be startups pressuring manufacturers, either. Last month, Bloomberg reported that Apple Inc. is working on a subscription service for the iPhone and other hardware. It’s rental by another name, with recurring payments and the option to upgrade. Advertisement If, as seems likely, Apple launches the business, it will have a powerful internal motivation to design durable devices that can be rented and sold multiple times. Other technology companies, keen to capture their own piece of the emerging rental business, will need to compete on a similar basis. Of course, durability alone can’t guarantee that technology becomes more sustainable. Consumers must still want their devices to last as long as possible. Thanks to rental, the very entities that design and sell their devices will be partners in their quest, rather than antagonists designing for obsolescence. For Grover and other emerging rental companies, that’s an investment worth making. More From Adam Minter at Bloomberg Opinion: Investors Love Fast-Fashion Shein — at Least for Now: Adam MinterDon’t Let Congress Slash Exports of Used Gadgets: Adam MinterClimate Change Doesn’t Have to Spell Doom for Farms and Food: Adam Minter This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners. Adam Minter is a Bloomberg Opinion columnist. He is the author of “Junkyard Planet: Travels in the Billion-Dollar Trash Trade” and “Secondhand: Travels in the New Global Garage Sale.” More stories like this are available on bloomberg.com/opinion ©2022 Bloomberg L.P.

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