Ethiopian plastic upcycling startup Kubik gets fresh funding, plans to license out its tech

Trending 3 weeks ago

Kubik, a integrative upcycling startup, has raised a $1.9 cardinal seed extension, months aft announcing first equity investment. The startup’s latest finance is from African Renaissance Partners, an East African task superior firm; Endgame Capital, an investor pinch a bias for technologies astir ambiance change; and King Philanthropies, a ambiance and utmost poorness investor.

The caller superior comes arsenic nan startup scales its operations successful Ethiopia pursuing nan motorboat of its mill successful Addis Ababa, wherever it is turning integrative discarded into interlocking building materials for illustration bricks, columns, beams and jambs. Kubik co-founder and CEO Kidus Asfaw, told TechCrunch that nan startup intends to double down connected its operations successful Addis Ababa, arsenic it lays crushed for pan-African maturation from 2025.

Kubik’s attack involves upcycling integrative discarded into “low-carbon, durable, and affordable” building materials utilizing proprietary technology, which Asfaw says they will out-license for faster pan-African, and nan eventual world growth.

“What we want to do is lick problems for cities and so, we’re reasoning astir our business exemplary being genuinely circular. The measurement we’ve group up our business strategy, is that now we’re successful nan attraction shape of proving this exemplary present successful Ethiopia. We’ll grow it to a fewer much markets to beryllium nan diverseness of nan discourse successful which this business exemplary tin work. But complete time, what we really want to do is modulation to becoming a institution that’s licensing retired this technology,” said Asfaw, who co-founded Kubik pinch Penda Marre successful 2021.

“That’s really we consciousness that we tin genuinely scale. It’s not by having factories each complete nan world, but having this manufacture adopt a caller measurement of making materials globally,” he said.

He said their merchandise allows developers to erect walls without nan request for cement, aggregates aliases steel, making nan building faster and bringing nan costs down by “at slightest 40% little per quadrate meter”. Cost is simply a cardinal obstruction successful building and nan readiness of affordable aliases cheaper building materials presents a amended action for developers of affordable-housing projects.

Asfaw said Kubik’s materials person passed information tests by nan European standards agency, Intertek, which checked, among different things, strength, toxicity and flammability.

“We don’t want to beryllium trading thing that’s harmful for quality beings. We did not commencement income until these reports were available,” he said.

The startup presently recycles 5,000 kilograms (and tin do 45,000 astatine capacity) of integrative discarded a day. It has signed partnerships pinch corporates and Addis Ababa municipality for a regular proviso of integrative waste. In nan near-term, it is looking astatine merchandise diversification to screen pavers and flooring material.

It is estimated that nan world produces 430 cardinal tonnes of integrative a year, 2 thirds are for short-term use. Evidently, nan world is choking connected integrative waste, and while nan business is exacerbated by consumerism trends successful developed countries, successful regions facing accelerated urbanization and economical maturation for illustration African cities, integrative discarded is getting retired of power too, requiring urgent responses. In nan coming days, startups for illustration Kubik will play a starring domiciled successful providing sustainable solutions for nan menace.