Philippine Startup Humble Sustainability Raises Funds to Expand E-Waste Initiative

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Humble Sustainability

Humble Sustainability (Humble), a Philippine-based climate technology startup, has successfully raised additional funding to scale its operations.

The investment round was spearheaded by Gobi Partners through the Gobi-Core Philippine Fund, with significant contributions from the National Development Company’s Startup Venture Fund, Double River Impact, and Equitrust Holdings Inc. High-profile strategic corporations and angel investors, including members from XA Network, also participated.

This funding follows Humble’s oversubscribed seed round, which was led by Seedstars International Ventures in late 2022.

“We’re delighted to back Humble’s mission and growth locally and globally, contributing to the circular economy’s expansion,” said Jason Gaisano, Co-founder and Managing Partner of Gobi-Core Philippine Fund.

He highlighted the importance of initiatives like Humble’s in regions like Asia, which historically contribute significantly to global e-waste.

Humble’s business model focuses on assisting companies to repurpose their outdated IT equipment rather than discarding it, thereby reducing electronic waste and helping these companies meet their Environmental, Social, and Governance (ESG) goals.

This strategy not only supports corporate social responsibility (CSR) but also creates funds for ESG-focused donations or financing.

With an ambitious target to reintroduce one billion items into the circular economy by 2030, Humble equips its clients with data-driven reports and analytics to help them achieve their ESG objectives.

Josef Werker, Co-founder and CEO of Humble, expressed his passion for environmental preservation, which was inspired by his mother’s commitment to climate activism.

“We’re so passionate and driven to help the environment in a significant and tangible way, and we won’t stop until we achieve our mission to use business in inspiring humanity to adapt to circular living,” said Werker.

Niña Opida, Humble’s Co-founder and COO, shared that her childhood experiences in the Philippines shaped her awareness and appreciation for the value of repurposed items, inspiring her to promote a culture of circular living.

Since its inception, Humble has forged significant partnerships with leading corporations, including names like Canva, Manulife, and Sunlife, helping divert over 250,000 kilograms of e-waste from landfills.

This achievement underscores the increasing demand and adaptability for circular economy practices within the business sector, paving the way for Humble’s continued growth and potential regional expansion.

Business-News-Asia.com