Plstka, a trash management business based in Egypt’s delta area, has received early money to help it grow.
Plstka, a company founded earlier this year by Ahmed Elnagar and Mahmoud Youssef, has created an app that compensates consumers for recycling their solid trash.
People can use the app to exchange waste for discounts and coupon vouchers in a variety of life services, such as medical services and transportation, and it also offers a new in-game experience called Plstka Profitable Competition, which allows users to compete with one another to raise environmental awareness.
As it seeks to expand its user base, the firm has received an unknown round of initial investment from Alexandria Angels Network, along with a matching grant from Hivos.
“We aim to acquire 1,500 tonnes of Delta market in the waste industry, which represents US$3 million of the market size and covers more than 100,000 households to make them get best benefits from their trash and also save the environment,” said Elnagar.
Dr. Khalid Al Tawil, an angel investor with AlexAngels, stated that the waste management business has become a significant element of the world 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,” he said.
