Tech startup Plstka secures seed funding round to expand its business

EGYPT – Plstka, an Egypt-based Tech startup successfully closes an undisclosed seed funding round from Alexandria Angels Network with a matching fund from Hivos.

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

“We aim to acquire 1500 tons of Delta Market in Waste industry which represents US$3 million of the market size and covers 100K+ households to make them get best benefits from their trash and also save the environment,” Ahmad ElNagar, founder and CEO of Plstka said.

Plstka is a rewarding app that helps customers get the best benefits from their solid waste with a B2B-IoT Supply chain system for waste management. Plstka app is used to exchange solid trash by discounts and coupon vouchers in various life services such as F&B, medical services and transportation.

Customers can also buy any product at a lower than market price. Plstka app 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 world is shifting to green energy and waste management industry has become a necessity and important part of our growing global economy.”

Dr. Khalid Al Tawil - Angel investor, AlexAngels Tweet

Waste management industry has become a necessity and important part of our growing global economy,” AlexAngels’ angel investor Dr. Khalid Al Tawil said.

“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.”

Plstka is a first gamification mobile app with IOT Supply Chain System using in swapping your solid trash by discounts and vouchers coupons in various life services such as Food, drinking, medical and transportation and can buy any product with price lower than market price by your trash.

Plstka provides new real game experience called Plstka Profitable competition which makes users compete with some who will be the game king to make people care about Environment.       

Another recycling and waste management platform, Coliba, secured investment from Belgian businessman Rudi De Kerpel in December last year.

Coliba has developed a waste management web and mobile application that connects households and businesses with affiliated plastic waste collectors.

The invested funds were to help Coliba, which also operates in Ghana, secure a few acres of land on the outskirts of Ghana’s capital Accra for a new PET washing line, and to increase its collection and processing rate.

The startup applies the principles of the circular economy to tackle the problem of plastic waste in Ivory Coast, allowing users to earn airtime or discounts on certain products by recycling. Its app tracks a user’s bottle collection progress and efficiently dispatches agents for collection.

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