Tech

Ethiopian low-carbon startup Kubik gets $5.2m for its pan-African expansion project

Published

2 months ago

May 10, 2024

Ethiopia’s low-carbon building startup, Kubik, has announced raising the sum of $5.2 million in seed funding which will enable it carry out its pan-African expansion drive.

Co-founder and CEO of the startup, Kidus Asfaw, who made the announcement, said the expansion plans will allow the company which specialises in the transformation of hard-to-recycle plastic waste into affordable, low-carbon building materials, take its offering to a larger market.

“We turn hard-to-recycle plastic waste into low-carbon, low-cost building materials. Our initial product set includes an interlocking set of bricks, columns and beams that make walls. Our aim is to build clean and affordable living for all,” Asfaw said.

“Our product costs close to 40 per cent less per square metre than traditional cement-based development, is two or three times faster to build with, and requires low-skill labour to build with,” said Asfaw.

“We are seeing growth in sales and continue to find opportunities to use our products in different contexts.

“The uptake so far has been very good, with a clear demand for our solution. We are now focused on increasing production capacity to keep up with demand.”

Asfaw said the plan was to expand into strategic markets in Africa next year and so far, things have already been going well for the startup.

The funding round, he said, follows an exciting growth period for Kubik, during which, among other things, it has launched a new plastic upcycling factory in Ethiopia’s state-of-the-art Adama Industrial Park, and secured several stellar clients including Pharo Ventures and Cornerstone Development Group.

Founded in 2021 by Asfaw and Penda Marre, Kubik produces low-carbon, affordable building materials from plastic waste to tackle Africa’s housing and waste crises.

Kubik recently raised a US$5.2 million seed funding round to help scale operations, making it the first Ethiopian company to raise a multi-million-dollar investment in climate and sustainability solutions. Investors in the round include African Renaissance Partners, Endgame Capital, and King Philanthropies, and the startup will use the funding to help it pursue its pan-African growth strategy

Kubik, whose clients are real estate developers and contractors that have active projects in affordable housing, public infrastructure, and commercial buildings, is addressing the costliness, variable quality, and lack of speed builders currently face using regular cement.

Related Topics:Expansion Featured Funding Kubik Startup

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Tech

Siemens partners PE Energy for industrial automation, innovation in Nigeria

Published

19 hours ago

July 6, 2024

Isaac Dachen

Siemens Digital Industries has struck a partnership deal with PE Energy aimed at enhancing industrial automation and innovation in Nigeria.

The partnership, according to Siemens Sub-Saharan Africa CEO, Sabine Dall’Omo, will elevate the landscape with advanced industrial automation systems, motion and drives, and process instrumentation across Nigeria.

“Our partnership represents a powerful synergy of Siemens’ advanced technology and PE Energy’s industry expertise. Together, we look forward to driving significant advancements in industrial automation across Nigeria, fostering growth and innovation in the region.”

“This collaboration paves the way for the future of automation and innovation, empowering Nigerian businesses to compete globally and prosper locally.

“This collaboration promises to deliver state-of-the-art solutions to a diverse array of industries such as Oil & Gas, manufacturing, food & beverage, and more,” the Siemens CEO said in a statement.

Also speaking on the deal, Daere Akobo, CEO, PE Energy said:

“As a player in the Nigerian industrial sector, PE Energy has consistently demonstrated its commitment to excellence and innovation.

“By teaming up with Siemens Digital Industries, a global innovation and technology leader in industrial automation, PE Energy is set to provide unparalleled services that enhance operational efficiency, productivity, and sustainability for its clients.

“We are excited about this partnership with Siemens Digital Industries. This collaboration aligns with our mission to offer cutting-edge technology and comprehensive solutions that meet the dynamic needs of our clients across various industries.

“Together, we will drive the implementation of state-of-the-art solutions in Nigeria’s industrial sector, fostering growth and competitiveness.”

The partnership, he added, will leverage Siemens’ advanced technology and expertise in automation, drive systems and process instrumentation while PE Energy will integrate these solutions to deliver customized, high-performance systems that address the unique challenges faced by Nigerian industries.

“This includes enhancing factory automation processes, optimizing motion and drives applications, and improving process instrumentation for better control and efficiency.”

Tech

Safaricom, M-Pesa Foundations donate Sh15m to victims of Kenyan protests

Published

2 days ago

July 5, 2024

Isaac Dachen

Kenya’s tech giants, Safaricom and M-Pesa, have made a joint donation of KES Sh15m to victims of the protests that have rocked the country in the last two weeks.

The two companies which made the donation through their Foundations also rolled out infrastructure developmental projects and support to hospitals catering for the project victims.

Safaricom CEO, Peter Ndegwa, who spoke at the Kenyatta National Hospital while visiting the victims on Thursday, said as part of the donation, KES 10 million would go to the hospital’s Disaster Response Centre, while KES 5 million would go towards supporting those injured and admitted at the hospital.

“Our Foundations are there to stand with people, especially in times of need. We are happy to provide hospitals with structured support in times of emergencies, both for infrastructure improvement and patient recovery,” Ndegwa said.

He said the KES 5 million will be for the provision of assistive devices to the injured, smartphones and airtime for those who lost their phones, supporting affected individuals with three months’ worth of food as well as one year’s worth of rent for those in extreme condition.

The Safaricom CEO added that to provide further immediate support, the firm, through its M-Pesa Foundation, is organizing medical camps in affected areas, starting with Githurai on 6th July, followed by Rongai at a later date.

“In the medium term, Safaricom will also mobilize its Gen Z employees as well as other like-minded corporates and foundations, under the #GenZforGenZ initiative, which will entail volunteer squads leading community outreaches, clean-ups, and medical camps.

“The long-term plan will entail a comprehensive execution of community programs through M-Pesa and Safaricom Foundations, with an increased focus on Gen Z.

“This includes providing TVET scholarships, economic empowerment through the Ndoto Zetu program, agri-business value chain opportunities through the Wezesha Agri Program, and offering access to business training and micro-loans in 13 counties, starting with Nakuru, Nairobi, Kajiado, and Migori.

“The plan will also include supporting mental health through strategic partnerships and provision of complimentary counselling services,” he said.