Nigerian Startup, Kaltani Gets N664 Million to Tackle Plastic Waste Pollution
- Kaltani, a Nigerian startup specialising in tacking plastic waste pollution in Africa, has raised over N600 million
- The company announced that the new funding will enable it expand its operations, increase its staff strength and mitigate plastic waste challenge
- According to a post on social media, the firm's founder Engineer Obi Charles Nnanna said that the world is facing a huge plastic problem facing the environment
A Nigerian startup, Kaltani, that seeks to solve plastic waste pollution in Africa via recycling, has raised N664 million in seed funding.
According to a report by Nairametrics, the company said it would use the funding to open 20 new collection and aggregation centres across the country and increase its staffing to over 500.
Source: Getty Images
What the funding would be used for
It will also increase the company’s capacity immensely to allow it to recycle up to 15,000 tonnes of plastic yearly.
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The firm did not state where the funding came from.
Kaltani was founded in Nigeria by Engineer Obi Charles Nnnana and had the vision to solve Africa’s growing plastic waste crisis by advancing the circular economy and recycling best practices.
Why the funding is important to Kaltani
In a post on LinkedIn, the company said that it was established with the mission to solve plastic waste problems which are affecting lands, oceans and the environment, stating that it has grown beyond just PET plastic recycling to PP&PE recycling.
Nnanna said the world is facing a plastic pollution crisis. He said it is an environmental disaster which causes degradation to the oceans, aquatic life, the air and health.
Tech startups in Nigeria raise over N281 billion in four months, report says
Legit.ng has reported that between January and April 2022, tech startups in Nigeria have raised a total of N281.370 billion.
These funds were raised in 107 separate deals announced in the same period this year, a report by Africa and Fintech report by Renaissance Capital said.
According to Nairametrics, it shows a 137 per cent increase in funds secured in comparison with $286 million secured in the same period under review last year.
Source: Legit.ng
