CyG It Sustainable Tech to be European leader in MGMT device tech
CyG It Sustainable Tech, a Spanish tech corporation specialized on electronic device’s reusing processes, acquires 2 million euro on private equity thanks to business angels, whose business and investment records renown them.
Bearing in mind this financial accomplishment, CyG, led by the young CEO Alejandro Costa, aims to carry out a strategic plan with a double-digit growth during the next few years, thus, assuring its leadership in integral tech cycle management. To achieve this task, they are considering both organic and inorganic growth models whether in a vertical way in the tech sec as in a horizontal way in their corporation business model.
An average of 500.000 electronic devices repaired per year using artificial intelligence, hence improving time and quality, along with its international presence in 102 countries around the fifth continents. CyG earned the trust of important investors as the new Dutch lead investor Fred Guelen, co-owner, and executive of Planon, a worldwide company of software by means of progress in commercial processes, of which the tech giant Schneider Electric is shareholder. However, they also count with the financial investment of several business angels of AABAN, which according to the Spanish acronyms means Andalusian Association of Business Angels Networks, and it is specialized in investing in technological projects with high growth potential.
“The CyG project key concept is sustainability, an intelligent response throughout the reusing and management of devices in the tech sector, meaning a positive social, economic and environmental impact in its context. Its approach for circular economy models will have so much to provide in the next few years” assures Fred Guelen, lead investor of the company.
“We are very confident of what we have accomplished. These new investors with deep knowledge on dynamics of the sector, along with the development of a strategic plan establishing innovation and sustainability as an important pillar of the project, will mean a key qualitative leap assuring the leadership of the corporation”, points out Alejandro Costa, Founder and CEO of CyG It Sustainable Tech.
To this extent, the corporation goes a step further in its strategy, becoming a worldwide benchmark in integral tech cycle management, however remaining faithful to its commitment of contributing to the decrease of the environmental footprint of the sector throughout the steady equipment innovation in more sustainable processes and projects. In addition, contributing to the ecologic transition, CyG is leading the subject matter about “Right to Repair and Circular Economy” in COTEC Foundation for Innovation, thus making possible a meeting point to discuss about industry, society, and public institutions.
About CyG It Sustainable Tech
CyG It Sustainable Tech is a technological corporation leader in integral digitization of after-sales services in South Europe working with main manufacturers and integrators at a worldwide level, such as Lenovo, Toshiba, Asus, and others. Investee of Telefónica, is based in a Sevillian town called Bollullos de la Mitación and has presence in more than 100 countries across the five continents thanks to its 200 employees and its wide network of local partners.
The corporation was created 17 years ago, and currently repairs an average of 500.000 devices per year thanks to their optimization and management of the process through big data tools, predictive analysis, and reused technology. This allows them to offer the best service to the client while promoting a circular economy. Nowadays and due to the continuous evolution of the corporation, CyG It Sustainable Tech has developed its own software specialized in talent management and internal communication (feedbalia), follow-up and ticketing monitoring (Aitana) or in the digitization of sectors as tourism (Extension Hotel).