Left to right: Gobi Co-founder and Chairperson Thomas Tsao; ERTH Co-founders Nahed Eletribi and Mohamed “Mo” Tarek; and Gobi Managing Partner (Malaysia) Jamaludin Bujang posed at ERTH’s office and warehouse in Cyberjaya, Malaysia.
Gobi Partners today announced that it had made an undisclosed strategic investment in Electronic Recycling Through Heroes (ERTH), a Malaysia-based company that focuses on electronic waste (e-waste) recycling, with L8 Ventures as a co-investor in the funding round.
The investment was made out of the Khazanah Nasional-backed Gobi Dana Impak Ventures Fund (GDIV Fund), part of Khazanah’s initiative to bolster the local startup ecosystem operating within Dana Impak’s Future Malaysia Programme.
“My vision for ERTH is to see widespread acceptance of our environmental initiatives, all geared towards improving the environment. With this funding, we aim to extend ERTH’s influence further, making a positive impact on the lives of everyone,” says ERTH co-founder Nahed Eletribi in a press statement.
The company also shared that within the next 12 months, its goal is to open more branches across Malaysia.
Established by Eletribi and Mohamed “Mo” Tarek El-Fatatry in 2019, ERTH was born out of a desire to make a meaningful impact, particularly in waste reduction, with a focus on e-waste.
Also Read: YEAP joins forces with youths to drive e-waste awareness and sustainable innovation
In addition to facilitating responsible e-waste disposal, it also rewards contributors with cash incentives or vouchers. According to the company, this approach fosters a community-driven commitment to environmental preservation while providing economic compensation.
ERTH aims to achieve its goal by employing a gig-economy workforce of over 1,000 freelancers, referred to as “Heroes.” These Heroes collect obsolete, faulty, and discarded electronics, such as laptops, smartphones, printers, televisions, and various devices, directly from households and businesses.
According to Tarek, who is a Finland citizen, “Finland has consistently ranked among the cleanest countries in the world, and I’m enthusiastic about applying Finnish best practices here in Malaysia to lead the way in e-waste recycling within Southeast Asia and ultimately work towards making Malaysia the cleanest country in this region. Our partnership with Gobi through the GDIV program is a perfect match, benefiting both our companies and contributing to the improvement of Malaysia’s environmental efforts.”
Since 2019, ERTH said that its Heroes have collectively diverted more than 1,000,000 kilograms of e-waste from landfills or the equivalent of 1,053 Perodua Myvi cars or 13 Boeing 737 aeroplanes.
The Malaysian Department of Environment has recognised ERTH as the largest authorised collector of e-waste in Malaysia.
—
Image Credit: Gobi Partners
The post ERTH raises funding from Gobi Partners, L8 Ventures to further expand in Malaysia appeared first on e27.