A New Wave of Investment
Ethiopian-based plastic upcycling startup, Kubik, recently secured a seed extension of $1.9 million, signaling a new wave of investment in sustainable technology. The funding round was led by African Renaissance Partners, Endgame Capital, and King Philanthropies, affirming investor confidence in Kubik's innovative approach to tackling plastic waste.
Scaling Operations in Ethiopia
With its newly acquired capital, Kubik is set to scale its operations in Ethiopia, particularly in Addis Ababa, where it recently launched its state-of-the-art factory. The company specializes in transforming plastic waste into interlocking building materials, such as bricks, columns, beams, and jambs, contributing to the circular economy while addressing pressing environmental challenges.
Pan-African Expansion on the Horizon
CEO and co-founder of Kubik, Kidus Asfaw, revealed plans to intensify operations in Addis Ababa while laying the groundwork for pan-African expansion by 2025. Asfaw envisions Kubik's proprietary technology being licensed out to facilitate faster growth across Africa and eventually on a global scale.
Revolutionizing Construction Practices
Kubik's innovative approach offers a sustainable alternative to traditional construction materials, allowing developers to erect walls without the need for cement, aggregates, or steel. This not only accelerates construction processes but also reduces costs by up to 40% per square meter, making it an attractive option for affordable housing projects.
Commitment to Safety and Quality
Prioritizing safety and quality, Kubik's building materials have undergone rigorous testing by the European standards agency, Intertek, ensuring compliance with international safety standards. Asfaw emphasizes the company's commitment to delivering products that are environmentally friendly and safe for human use.
Towards a Circular Economy
Kubik's impact extends beyond its immediate operations, contributing to the global effort to combat plastic pollution and promote sustainable practices. By recycling 5,000 kilograms of plastic waste daily, Kubik is actively addressing the urgent need for sustainable solutions to the growing plastic waste crisis.
Pioneering Sustainable Solutions
As the world grapples with the environmental consequences of plastic consumption, startups like Kubik are at the forefront of pioneering sustainable solutions. With a focus on innovation, collaboration, and environmental stewardship, Kubik is poised to lead the way towards a more sustainable future, one recycled brick at a time.
