Kubik, Inc., a pioneering African startup specializing in plastic waste upcycling, has secured $3.34 million in funding.
The investment aims to position Kubik as a leader in combating plastic pollution and promoting sustainable practices across Africa. The funding round was led by prominent venture capital firms, including Plug and Play Tech Center, BESTSELLER FOUNDATION, GIIG Africa Fund, Satgana, Unruly Capital, Savannah Fund, African Renaissance Partners, LLC, Kazana Fund, Princeton Alumni Angels, and Andav Capital.
Kubik’s unique upcycling process involves transforming post-consumer plastic waste into valuable and sustainable products. Founded in 2021, the startup repurposes plastic waste into building materials, furniture, and consumer goods. The latest funding round will enable Kubik to expand its operations, invest in research and development, and scale up its production capabilities.
The investment will also support establishing collection networks to ensure a steady supply of plastic waste and foster partnerships with local communities, waste management organizations, and government entities.
Accion, a non-profit focused on financial inclusion, has announced the launch of the Accion Digital Transformation Fund, a $152.5 million initiative designed to empower traditional financial institutions in serving underserved small businesses.
Kumulus Water, a Tunisian-French startup specializing in atmospheric water generation, has raised $3.5 million in seed funding to scale its technology that transforms air into safe drinking water.
South Africa’s Free State province is taking a major leap towards electric mobility with a $234 million investment in the world’s first network of solar-powered electric vehicle charging stations.
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