Nick Boden, co-founder and CEO of Klean
Ficus Capital, an Islamic Environment, Social, and Governance (ESG-i) VC firm (ESG-i), has invested RM2 million (~US$430,000) in Klean, a greentech sustainable recycling business owned by Malaysia-based Janz Technologies.
This investment, made through the Ficus SEA Fund, will support KLEAN’s initiatives in container recovery, expand its network of Reverse Vending Machines (RVMs), and enhance its regional operations in Malaysia, Indonesia, Singapore, and Fiji.
Also Read: Growing and transforming global greentechs for sustainability
Klean operates a sophisticated digital container deposit system using artificial intelligence-powered reverse vending technology. This system encourages individuals to recycle empty plastic containers. Users can earn points, which can be redeemed for rewards.
Equipped with cutting-edge AI technology, Klean’s Smart RVMs include a machine learning-enabled chute that recognises brands of deposited containers. This facilitates retailer container recovery data and activates targeted advertisements.
Additionally, the machines automatically identify the type of material and sort it into separate bins, optimising recycling operations. Currently, there are 100 RVM units across Malaysia, Indonesia, Singapore, and Fiji.
Its mobile app allows recyclers to scan QR codes, collect Klean points, and redeem rewards. The app captures core user data for precise targeted marketing.
Furthermore, Klean’s data and reporting capabilities provide real-time RVM data and ESG reporting tracking through the Klean dashboard, offering businesses comprehensive metrics for CSR reporting and data monetisation channels.
“As awareness of social and environmental issues continues to grow globally, so does the demand for sustainable investment options that align with ethical and religious values. The ESG-i sector stands at the intersection of these trends, offering investors the opportunity to make impactful and socially responsible investments while adhering to Islamic finance principles,” Ficus Capital Managing Partner Abdullah Hidayat Mohamad said.
Green recycling technology has the potential to revolutionise various industries, including renewable energy, sustainable transportation, waste management, and energy efficiency, thereby fostering a cleaner, greener future for all.
According to Fortune Business Insights, the global greentech and sustainability market is projected to grow from US$19.83 billion in 2024 to US$83.59 billion by 2032 at a compounded annual growth rate (CAGR) of 19.7 per cent. Significant growth is anticipated, particularly in developing economies and emerging markets.
Also Read: Greentech revolution: Catalysing software’s success to drive a sustainable future
Ficus SEA Fund was launched in November 2021 with a focus on accelerating the growth of high-potential technology startups ups across ASEAN in sectors such as logistics, fintech, healthtech, e-commerce, edutech, greentech, big data analysis, and cloud services. The fund aims to support sustainable and dynamic startups that positively impact the environment and society. It focuses on three primary concepts: shariah principles, sustainable growth, and ESG.
—
The post Ficus Capital invests in Malaysia’s sustainable recycling startup Klean appeared first on e27.