Ethiopian sustainable tech startup Kubik successfully raises $5.2 million in seed funding to transform plastic waste into affordable building materials, marking a significant milestone in climate and sustainability solutions for Africa.

Information on the Target

Kubik, a groundbreaking sustainable technology startup based in Ethiopia, has successfully completed a $5.2 million seed funding round. This achievement marks a significant milestone as Kubik becomes the first Ethiopian company to secure multi-million dollar investments focused on climate and sustainability solutions. The startup specializes in turning plastic waste into low-carbon, durable, and affordable building materials, which not only aid in waste removal but also promote sustainable development throughout Africa.

By offering products that are at least 40% more cost-effective per square meter compared to traditional cement-based materials, Kubik's innovative approach yields five times less greenhouse gas emissions. The funding will facilitate the expansion of their operations, enhance their technology for waste tracking and environmental impact assessment, and further empower female waste collectors in the region.

Industry Overview in Ethiopia

Ethiopia's housing sector is experiencing rapid urbanization, with an emerging demand for affordable housing solutions. The global affordable housing market is valued at approximately $2.2 trillion, highlighting a significant deficit