Plstka, an Egypt-based waste management firm, has raised an undisclosed seed round from Alexandria Angels Network, with Hivos matching funds. Ahmed ElNagar and Mahmoud Youssef founded the company in 2021.
The funding will be used to expand the startup’s reach across Egypt, outside its current region of Egypt’s Delta region.
Plstka is a rewarding app that uses a B2B-IoT supply chain system for waste management to help clients get the most out of their solid waste. Plstka is a mobile app that allows users to swap solid waste for discounts and coupon coupons in a variety of everyday services such as food and beverage, medical care, and transportation. Customers can also purchase any product at a lesser price than the market. The Plstka app now includes a new in-game experience called Plstka Profitable Competition, which pits users against one another in order to raise environmental consciousness.
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Ahmad ElNagar, founder and CEO of Plstka said, “We aim to acquire 1500 tons of Delta Market in Waste industry which represents $3M of the market size and covers 100K+ households to make them get best benefits from their trash and also save the environment”
AlexAngels’ angel investor Dr. Khalid Al Tawil reflects “Waste management industry has become a necessity and important part of our growing 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”
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer