Humble Sustainability, a Philippine-based climate technology startup, has successfully garnered additional funds to escalate its initiatives in the circular economy.
This latest round of financing was led by Gobi Partners through the Gobi-Core Philippine Fund, with substantial backing from the National Development Company’s Startup Venture Fund, Double River Impact, and Equitrust Holdings Inc., alongside strategic corporations and angel investors, including members from XA Network.
Following an oversubscribed seed round spearheaded by Seedstars International Ventures in late 2022, this new influx of capital underscores a significant confidence boost from investors.
“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 emphasized the crucial role of such initiatives in Asia, a region with a considerable contribution to global electronic waste.
Humble’s innovative business model supports companies in repurposing outdated IT equipment, thus reducing electronic waste and enhancing their Environmental, Social, and Governance (ESG) credentials.
This approach not only aligns with corporate social responsibility (CSR) but also facilitates the creation of ESG-focused funds for donations or financing.
With the ambitious goal of reintroducing one billion items into the circular economy by 2030, Humble provides its clients with data-driven reports and analytics to meet their ESG targets effectively.
Josef Werker, Humble’s Co-founder and CEO, shared his deep-rooted passion for environmental preservation, a commitment inspired by his mother’s climate activism. “We’re driven to significantly impact the environment through business, inspiring humanity to embrace circular living,” Werker stated.
Niña Opida, Co-founder and COO of Humble, also drew from personal experiences, recounting how thrift shopping during her childhood in the Philippines instilled in her a recognition of the value in repurposed items. This has driven her to integrate her past into promoting a culture of circular living actively.
Since its inception, Humble has established strong partnerships with top-tier corporations such as Canva, Manulife, and Sunlife, effectively diverting over 250,000 kilograms of e-waste from landfills.
This achievement highlights a growing readiness within the business sector to adopt circular economy practices, setting the stage for Humble’s further national expansion and potential for regional growth.
PEVCJournal.com