Mr. Green Africa a Kenyan plastic recycling startup has secured a major round of funds by driven investors and key industry stakeholders. As a result, this will help to scale its business model across the African continent.
Mr. Green Africa is a circular recycling startup that has a technology-driven plastics collection model. This helps waste collection at the source, absorbing informal waste workers, micro-entrepreneur, and consumers into a formal value chain.
The startup works hand in hand with brand owners to realize its sustainable packaging goals. In other words, it accesses ethically source, locally produced Post Consumer Recyclate (PCR).
It is on a mission to turn waste into value hence, integrating and strengthening a localized circular economy in emerging markets.
An undisclosed amount of funds from DOB Equity, Global Innovation Fund, and Unilever was initially raised by Mr. Green Africa.
DOB Equity, a Dutch family-backed impact investor in East Africa, and Global Innovation Fund are returning investors. In addition, they now have Water Unite Impact Investment Vehicle.
This is a partnership between Water Unite and Wellers Impact, the BESTSELLER Foundation, AlphaMundi Group, Minderoo, and DOW.
This investment will give room for the startup to build its success and also scale its business model.
By improving the output quality of recycled plastics to a food-grade standard and increasing their capacity, the startup will be contributing to a larger circular plastic economy.
In conclusion, the company is planning to create a new sourcing stream by introducing consumers to deposit waste back into MGA collection systems.
It also plans to increase the capacity of its production plant to process 15,000-20,000 MT plastic waste in the East Africa region.