Ethiopian plastic upcycling startup Kubik gets fresh funding, plans to license out its tech

Kubik, a plastic upcycling startup, has raised a $1.9 million seed extension, months after announcing initial equity investment. The startup’s latest investment is from African Renaissance Partners, an East African venture capital firm; Endgame Capital, an investor with a bias for technologies around climate change; and King Philanthropies, a climate and extreme poverty investor. The fresh capital comes as the startup scales its operations in Ethiopia following the launch of its factory in Addis Ababa, where it is turning plastic waste into interlocking building materials like bricks, columns, beams and...