Great news for Bekia, the waste management an online marketplace where you can exchange your household waste in return for groceries, mobile data, transport tickets and many more others. Cairo-based tech-powered waste management services startup Bekia has raised six-dollar-figure investment.

Here Is The Deal

• The investment came from Oman Technology Fund after the startp took part in their Wadi OTF Accelerator programme.
• Oman Technology Fund’s Wadi Accelerator has previously invested in startups such as the Karachi-based SaaS startup Social Champ which saw the Fund invest about $100,000 into the startup. Social Champ received the investment after being selected for Wadi’s accelerator program that took place in London and Muscat.
• The startup aims to use the funds gained to increase operational efforts and expand throughout Egypt, beginning with the coastal city of Alexandria.
• The Egyptian startup will also continue to target sustainable waste management solutions and and increase their orders tenfold.

Read also: Egypt Startup Wasla Raises $1 million Seed To Scale Business

Why The Investor Invested

The investor invested simply because the startup has been part of their accelerator programme for quite some time now; so investing in the startup seems the most natural thing the Oman Technology Fund’s Wadi Accelerator could do.

Wadi Accelerator was formed through a partnership between Oman Tech Fund (a fund powered by Oman’s sovereign fund) and global startup accelerator 500 Startups. The Accelerator is a US$15 million seed stage program open to startups from the wider Middle East and North African region. Led by Managing Director Sharifa Al Barami, the Accelerator program “primarily invests in post-product [ ideas] with some user traction and evidence of product/market fit.”

“The value Wadi Accelerator offers is far beyond the funding as we also provide selected teams with the global expertise, world-class mentors, understanding of the Omani and MENA markets, and strong partnerships on the ground,” Al Barami said.

Open to enterprises across sectors, Wadi Accelerator provides access to mentors, training sessions on building a startup, user acquisition, growth hacking, etc., and also offers the teams access to their co-working space and partner (500 Startups’) resources. According to a statement, Wadi Accelerator is funded by OTF (which will oversee startup selection and investment), and the program’s curriculum will be powered by 500 Startups. The program’s first cohort started in 2018.

A Look At What Bekia Does

• Established in 2017 by Alaa Afifi, Bekia launched its services in 2017 to help the Egyptians to get rid of their waste, as Egypt is one of the biggest waste producers in the world. 
• According to statistics, Egypt generates more than +100 M tons of waste yearly.
• Bekia serves as 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.

“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,” says Alaa Afifi, founder and CEO of Bekia.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world