Dive Brief:

• Cell phone recycling company eRecycling Group raised $105 million from investors including Kleiner Perkins Caufield & Byers and Silver Lake Kraftwerk.

• The company makes cell phone recycling and trade-in programs for carriers and is focused on creating services that the carriers can utilize and profit from.

• The 130 million cell phones discarded annually create 65,000 tons of solid waste.

Dive Insight:

Laws regarding recycling of cell phones vary across states and cities, making consumers and providers uncertain about what to do with used devices. Only about 8% of phones are currently recycled.