Prominent investors such as Plug & Play, Bestseller Foundation, GIIG Africa Fund, Satgana, Unruly Capital, Savannah Fund, African Renaissance Partners, Kazana Fund, Princeton Alumni Angels, and Andav Capital participated in the funding round.

Co-founded by Kidus Asfaw and Penda Marre in 2021, Kubik has plans to expand its production capabilities at its plant in Ethiopia later this year. The company aims to construct over a quarter million square meters of wall surface area annually, which can potentially facilitate the construction of up to 10,000 affordable homes each year. 

Asfaw, the CEO of Kubik, emphasized the significant global deficit of affordable housing units, surpassing 300 million, and highlighted the company’s opportunity to address this $2 trillion market.

Kubik specializes in the development of interlocking building materials, including bricks, columns, beams, and jambs. These innovative materials enable developers to construct walls without the need for traditional cement, aggregates, and steel. Asfaw assures that Kubik’s products maintain the structural integrity of buildings and provide wall strength comparable to cement-based alternatives.

Moreover, Kubik’s products offer substantial cost savings, with prices at least 40% lower per square meter. The materials possess chemical properties that ensure safety, non-flammability, and non-degradability. Additionally, they have a significantly lower carbon footprint, emitting greenhouse gases at least five times less than cement-based products.

Asfaw believes that Kubik’s affordable materials can help address the current housing deficit, exacerbated by rapid urbanization and soaring construction costs. The startup aims to contribute to resolving this issue while also promoting the circular use of plastics and mitigating plastic waste. While governments worldwide are being urged to implement policies that reduce plastic waste, Kubik’s solution provides a lower-carbon, cost-effective alternative.

Asfaw expressed enthusiasm about Kubik’s potential impact, stating that the company plays a crucial role in tackling the challenges of plastic waste, unaffordable housing, and climate change. The CEO envisions Kubik as a catalyst for sustainable and affordable construction, driving technological advancements in the built environment materials sector.

By revolutionizing construction practices with their transformative and eco-friendly materials, Kubik is paving the way for a more sustainable future, addressing pressing global challenges in the process.

In the meantime, innovators looking to be a part of the next delegation are encouraged to apply to the 2022/23 season of GSA Africa – the largest independent startup ecosystem competition on the continent on a mission to find, fund, and scale the most innovative companies in Africa. Applications are free and close on 26 February 2023.

Among others, this year’s competition is looking for innovations in agriculture, climate, commerce, education, healthcare, and mobility & logistics, with a particular interest in startups championing Web3 technologies, green innovation, and diversity in the workplace.

This is coupled with additional award categories for co-working spaces, ecosystem support organisations, investors, and individuals.

Providing applicants and winners alike with unmatched opportunities to gain global exposure, access new markets, and network with global industry leaders, the competition will see entrants contend at a national level before vying for their spot as a regional finalist.

From here, a panel of innovation experts will determine the African winners, who will be announced alongside representatives from across the public, private and civil sectors at the GSA Africa Summit in September 2023 – a two-day conference and gala dinner to convene, connect and celebrate Africa’s most innovative minds.

Winners of the competition will also have the exclusive opportunity to receive funding from the Global Innovation Initiative Group (GIIG).

As the investment partner to the African Startup Awards, GIIG’s sole purpose is to fund the development of Sustainable Development Goal-aligned solutions on the continent and recently announced a slew of investments into last year’s regional and African winners, including Kubik, MyHealthAfrica, and ScarabTech, among others.

In addition to funding, the African winners are exposed to new opportunities for collaboration on an international scale, with winners, Scarabtech and Tekeya, recently invited to attend COP27, where they were announced as winners of the Africa Grows Green Awards.

“Whatever your category, I highly recommend that you enter the African Startup Awards,” says Kidus Asfaw, Co-founder and CEO of Kubik, which was named the African winner in ESG Tech and Startup of the Year at last year’s competition. “For us, it wasn’t just about the funding potential – it was important that we be a part of a pan-African ecosystem of innovators. Now, we’re excited to be representing the continent in Demark later this year for the Global Startup Awards Grand Finale – we’re excited for this opportunity to really put Kubik on the global map.”

Reflecting on the Awards and Summit, Jeffrey Barbee, Founder and CEO of ScarabTech – which was named a regional winner for Southern Africa – says: “It was a great opportunity to connect with impact-minded partners from all over Africa. This environment of collaboration afforded the startups involved the opportunity to meet each other, learn about other amazing projects, and  develop our networks across the continent. Making contact with businesses on a similar journey to us was a valuable exercise and is helping shape how our business can best succeed in the future.”

Adding to this, Jo Griffiths, Co-Founder of GSA Africa, says that: “The African Startup Awards is more than just a competition – it’s a community. We’re building the largest network of innovation organisations, from the entrepreneurs working on the ground, to the investors and government organisations that support them, all committed to realising sustainable, inclusive, and impactful development across the African continent. It is for this reason that – in addition to funding – we also strive to support all applicants with non-monetary forms of support, such as mentorship, training and networking.”

Applications for the African Startup Awards are free and close on 26 February 2023.

To apply, go  here.