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Kubik , a fictile upcycling startup , has raised a $ 1.9 million seed extension , months after announcing initial fairness investing . The startup ’s latest investing is from African Renaissance Partners , an East African speculation upper-case letter firm ; Endgame Capital , an investor with a bias for technologies around mood modification ; and King Philanthropies , a mood and extreme poverty investor .
The invigorated capital comes as the inauguration scales its operation in Ethiopia following the launch of its manufacturing plant in Addis Ababa , where it is turning plastic waste into interlock construction materials like bricks , pillar , beams and jamb . Kubik co - founding father and CEOKidus Asfaw , told TechCrunch that the inauguration destine to reduplicate down on its operations in Addis Ababa , as it lays ground for Pan - African increase from 2025 .
Kubik ’s approach affect upcycling plastic waste into “ down in the mouth - C , durable , and affordable ” building materials using proprietary technology , which Asfaw allege they will out - permission for fast Pan - African growth , and eventually world-wide growth .
“ What we desire to do is solve problems for cities and so we ’re thinking about our business model being rightfully circular . The direction we ’ve set up our business scheme is that now we ’re in the focus phase of proving this model here in Ethiopia . We ’ll blow up it to a few more markets to leaven the diversity of the circumstance in which this business model can process . But over meter , what we really want to do is transition to becoming a company that ’s licensing out this technology , ” state Asfaw , who co - founded Kubik withPenda Marrein 2021 .
“ That ’s how we feel that we can truly scale . It ’s not by have factory all over the world , but having this industry adopt a new way of have materials globally , ” he said .
He said their merchandise allows developer to raise paries without the need for cement , aggregate or blade , make the construction faster and bringing the cost down by “ at least 40 % less per square meter . ” toll is a key roadblock in construction and the availability of low-priced or chintzy building fabric presents a better option for developers of low-cost - trapping projects .
Asfaw say Kubik ’s material have pop off rubber tests by the European standard government agency , Intertek , which check out , among other thing , intensity level , toxicity and flammability .
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“ We do n’t want to be sell something that ’s harmful for human being . We did not start sale until these written report were usable , ” he said .
The inauguration presently recycles 5,000 kilograms ( and can do 45,000 kilogram at capacity ) of formative waste a twenty-four hours . It has signed partnership with corporates and Addis Ababa municipality for a regular supply of formative waste . In the near - term , it is look at product diversification to cover pavers and take aback cloth .
It is estimated that the worldproduces430 million tons of plastic a year , two - third base are for short - term purpose . Evidently , the world is choking on moldable waste , and while the billet is exasperate by consumerism trends in modernize countries , in regions face rapid urbanization and economical growth likeAfrican metropolis , moldable waste is take out of control , too , requiring urgent responses . In the coming solar day , startup like Kubik will encounter a leading function in providing sustainable solutions for the threat .
African climate startups set to gain land as VC fund shifts their way
