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Egyptian Startup Bekia Raises 6-Dollar-Figure Investment for Its Waste-Management Business

Via theswitchers.eu

TechInAfrica — A tech-powered waste management services startup, Bekia, has recently raised a six-dollar-figure investment from Oman Technology Fund. This Cairo-based startup scored this investment following its partaking in the VC’s Wadi OTF Accelerator program.

The Egyptian startup operates by serving as a marketplace where people can exchange household waste and get rid of their unused items. On an earlier statement, the startup said that it plans to use the investment gained to increase its operational efforts. It also targets the expansion throughout Egypt, beginning with the coastal city of Alexandria.

Read also: Three African Entrepreneurs in the Waste Management Industry

Founded in 2017 by Alaa Afifi, Bekia first launched its services in 2017. The startup aims to help the Egyptians to get rid of their waste, as Egypt is one of the biggest waste producers in the world. Egypt generates more than 100 M tons of waste yearly, according to statistics.

Bekia is a marketplace where people can exchange household waste such as plastic, electronics or unused items in return for daily essential consumer goods such as groceries, school supplies, transport tickets or mobile data, or in other terms, exchange, save or donate their waste. The startup has successfully managed to make more than 10,000 orders and compiled more than 20,000 tons of solid waste.

Read also: Ethiopian Entrepreneur and Engineer who Derives Energy from Urban Wastes

“As such, Bekia caters to not only those in need of receiving certain utilities but to those who also want to protect the environment or recycling enthusiasts; it even has an option where the user can donate his or her waste so that the points given can serve a family or another user in need,” Alaa Afifi, founder and CEO of Bekia said.

The Egyptian startup will continue to target sustainable waste management solutions, increasing their orders tenfold, and expanding its operations to Alexandria by 2020.

Source: thestartupscene.me

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