Kubik, a plastic upcycling startup, has secured a $1.9 million seed extension in funding, marking a significant milestone in their mission to tackle plastic waste and revolutionize the construction industry. The investment comes from African Renaissance Partners, Endgame Capital, and King Philanthropies, highlighting the growing interest in sustainable technologies and solutions for climate change.
The startup, based in Ethiopia, has been making waves with its innovative approach to upcycling plastic waste into building materials like bricks, columns, beams, and jambs. With the recent launch of their factory in Addis Ababa, Kubik is ramping up its operations and setting the stage for expansion across Africa in the coming years.
Co-founder and CEO Kidus Asfaw emphasized the importance of their circular business model, which focuses on licensing out their proprietary technology to drive global impact. By offering low-carbon, durable, and affordable building materials, Kubik is not only addressing the environmental impact of plastic waste but also providing a cost-effective solution for developers in need of sustainable construction materials.
Asfaw highlighted the safety and quality of Kubik’s materials, which have passed rigorous testing by the European standards agency. With a capacity to recycle up to 45,000 kilograms of plastic waste per day, the startup is poised to make a significant impact on the plastic waste crisis and contribute to a more sustainable future.
With the world producing millions of tonnes of plastic waste each year, startups like Kubik are at the forefront of finding innovative solutions to combat this growing problem. As they continue to expand their product offerings and partnerships, Kubik is paving the way for a more sustainable and environmentally conscious construction industry.