In the bustling landscape of technology and startups, a London-based innovator, Ooodles, is redefining how small and medium-sized enterprises (SMEs) approach technology acquisition. With a groundbreaking rental platform, Ooodles has successfully secured €11 million in funding, spearheaded by the Paris-based Smart Lenders Asset Management (SLAM). This financial boost is not just a testament to the company’s potential but a significant step towards transforming IT tech procurement for SMEs.
Founded in 2021 by Leonardo Poggiali, a seasoned professional in the industry, Ooodles has emerged as a Device-as-a-Service pioneer, particularly catering to the often-overlooked SME sector. It offers access to top-tier laptops, smartphones, and other essential IT technologies through a flexible and sustainable monthly rental model.
The traditional model of purchasing technology often involves hefty upfront costs, with the added downside of rapid depreciation. Ooodles disrupts this model by introducing a Pay-As-You-Go subscription, allowing businesses to acquire the technology they need without the financial burden of outright purchases. This model empowers SMEs to allocate funds to other critical areas of their business, while also staying up-to-date with the latest technology.
A significant advantage of Ooodles’ model is its agility and scalability. Businesses can effortlessly adapt their tech inventory to changing needs, ensuring they always have the right tools for the job without the logistical headache of device management. This approach not only boosts efficiency but also supports a robust security posture, crucial in today’s digital landscape.
However, Ooodles’ vision extends beyond business efficiency. The company is a proactive participant in the circular economy, promoting sustainability through a reuse-recycle loop for devices. This commitment aligns with global initiatives like the UN’s Circular Vision for Electronics, addressing the escalating challenge of electronic waste.
With the alarming statistic from the UN highlighting that only 20% of the 50 million tonnes of e-waste produced annually is formally recycled, Ooodles’ efforts are more than just a business model—they’re a vital contribution to a global environmental crisis. By 2050, if unchecked, e-waste is set to double, underscoring the urgency and relevance of Ooodles’ mission.
Leonardo Poggiali, CEO of Ooodles, emphasizes the stagnation in IT hardware industry innovation. He sees Ooodles as the catalyst for a shift towards subscription-based models, aligning with evolving customer preferences. This approach not only offers financial and logistical benefits to customers but also ensures a responsible path for the lifecycle of IT devices.
The context in which Ooodles operates is ripe for disruption. The UK alone boasts over 5.5 million SMEs in need of technology solutions. The market is currently fragmented, with either small IT service companies lacking scalability or larger providers failing to offer the required flexibility. Ooodles is strategically positioned to bridge this gap, setting a new standard for SME tech rentals.
The funding injection will fuel Ooodles’ expansion across the UK, with international ambitions on the horizon. Furthermore, the company aspires to achieve carbon neutrality by 2025, aligning its growth with environmental responsibility.
Erich Bonnet, CEO of Smart Lenders, expresses pride in contributing to this burgeoning Hardware-As-A-Service industry through SLAM’s support of Ooodles, a company he regards as a frontrunner in the field.
In summary, Ooodles is not just another startup on the rise. It represents a paradigm shift in how SMEs interact with technology. Through its innovative rental model, commitment to sustainability, and ambitious growth plans, Ooodles is poised to redefine the tech landscape for small and medium businesses, while contributing positively to the global challenge of e-waste.
