The Science and Technology Angels Network (STAN) has made its first investment in the Armenian startup Apaga, which offers a platform for monetizing recycling efforts.
Information on the Target
Apaga is an innovative Armenian startup focused on creating a platform that enables customers and retailers to effectively monetize recycling efforts. The company was founded by Mikhail Zamskoy and Cedric Solms, who have expressed enthusiasm about their successful fundraising initiative through the Science and Technology Angels Network (STAN). With the support of the Foundation for Armenian Science and Technology (FAST), Apaga has evolved substantially since its inception, particularly during its incubation period in September 2018.
The funding received will facilitate the development of a mobile platform alongside additional functionalities, thereby enhancing Apaga’s ability to foster a robust green community in Armenia. Part of this investment will also be directed towards marketing efforts to promote recycling awareness and education among the public.
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Industry Overview in Armenia
The recycling industry in Armenia is at a nascent stage, with considerable potential for growth and development. As a country that has faced environmental challenges and waste management issues, there
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Science and Technology Angels Network (STAN)
invested in
Apaga
in 2023
in a Seed Stage deal