Funding

Egyptian Waste Management Atartup Plstka Secures Seed Funding Round

Plstka, a waste management startup active in the delta region of Egypt, has secured a round of seed funding to help it scale.

Launched earlier this year by Ahmed Elnagar and Mahmoud Youssef, Plstka has developed an app that rewards customers for recycling their solid waste.

Using the app, people can exchange waste for discounts and coupon vouchers in various life services, including medical services and transportation, while it also provides a new in-game experience called Plstka Profitable Competition, which makes users compete with each other to raise more awareness about the environment. 

The startup has now raised an undisclosed round of seed funding from Alexandria Angels Network with a matching fund from Hivos as it bids to build its user base,

“We aim to acquire 1,500 tonnes of Delta market in waste industry, which represents US$3 million of the market size and covers more than 100,000 households to make them get best benefits from their trash and also save the environment,” said Elnagar.

AlexAngels angel investor Dr Khalid Al Tawil said the waste management industry had become an important part of the global economy. 

“The world is shifting to green energy and waste management and Plstka is targeting a blue ocean market in Egypt’s Delta where there is a huge potential for the waste management industry to grow and expand locally and globally,” he said.

Read Original Article Here

Nichole Manhire

Is the media and brand manager at GFA News. She works very closely with editors and podcasters that contribute to telling the African business success story. For marketing and advertising send Nichole an email: nichole@getfundedafrica.com

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button