The Humble team
Humble Sustainability, a climate-tech startup based in the Philippines, has secured undisclosed funding led by Gobi Partners through its Gobi-Core Philippine Fund.
The Philippines government agency National Development Company (NDC), through the Startup Venture Fund; Double River Impact; Equitrust Holdings; and several high-profile strategic corporations and angels, including those from XA Network, also participated.
Also Read: What is circular economy and why F&B companies should care
The funding round follows the startup’s oversubscribed seed round led by Seedstars International in late 2022.
The fresh capital will be used to expand operations and scale its business.
Humble promotes a circular economy by helping businesses sell their old IT equipment instead of throwing it away, reducing electronic waste. It aids clients in reaching their Environment, Social and Governance (ESG) goals by reusing equipment.
The company has an ambitious goal of making one billion items circular by 2030.
Also Read: The circular economy as the next frontier for Asia’s innovators
The climate-tech venture claims to have diverted over 250,000 kilograms — the equivalent of 116,279 laptops, 6250 residential split-type air conditioners, or 185 Honda Civics — of e-waste from landfills so far. Humble achieved this milestone by leveraging its extensive network of more than 75 B2B clients, which includes renowned companies like Canva, Manulife and Sunlife.
Gobi-Core Philippine Fund co-founder and managing partner Jason Gaisano said: “Considering Asia has been previously recorded to contribute to almost half the world’s e-waste, it’s encouraging to witness the rise of circular economy initiatives in the Philippines.”
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