Ethiopian plastic upcycling startup Kubik gets fresh funding, plans to license out its tech [TechCrunch]
INTERTEK GROUP UNSP/ADR (IKTSY)
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Source: TechCrunch
latest investment is from African Renaissance Partners, an East African venture capital firm; Endgame Capital, an investor with a bias for technologies around climate change; and King Philanthropies, a climate and extreme poverty investor. The fresh capital comes as the startup scales its operations in Ethiopia following the launch of its factory in Addis Ababa, where it is turning plastic waste into interlocking building materials like bricks, columns, beams and jambs. Kubik co-founder and CEO Kidus Asfaw , told TechCrunch that the startup intends to double down on its operations in Addis Ababa, as it lays ground for pan-African growth from 2025. Kubik's approach involves upcycling plastic waste into “low-carbon, durable, and affordable” building materials using proprietary technology, which Asfaw says they will out-license for faster pan-African, and the eventual global growth. “What we want to do is solve problems for cities and so, we're thinking about our business model bei
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