Gobi Partners Backs Humble Sustainability in Promoting Circular Living Practices

Philippine climate tech startup Humble Sustainability (Humble) has recently secured undisclosed funding from Asia-focused venture capital firm Gobi Partners through its Gobi-Core Philippine Fund. This funding injection will support Humble’s expansion plans and enhance its capacity to scale its operations within the country.

With the country generating up to 61,000 metric tons of solid waste daily, Humble’s focus is on promoting a circular economy by facilitating the resale of electronic equipment, thereby mitigating environmental impact and promoting sustainable business practices.

Humble Sustainability has secured additional funding from a diverse group of investors, including Double River Impact, Equitrust Holdings Inc., the National Development Company (NDC) through the Startup Venture Fund, and prominent figures from the XA Network.

The follow-up round of funding has carried Humble’s momentum following its oversubscribed seed round led by Seedstars International Ventures in late 2022. 

Josef Werker, Co-founder and CEO of Humble views the involvement of partners and investors as a key milestone for the company. Expressing excitement about the collaboration, Werker emphasizes Humble’s ambition to inspire humanity to adopt circular living practices. 

The funding injection follows Humble’s strategy to facilitate the resale of electronic equipment, thereby reducing electronic waste and supporting clients in achieving their Environmental, Social, and Governance (ESG) objectives. With its data-driven approach and emphasis on circular economy principles, Humble remains dedicated to making a meaningful impact on environmental sustainability. 

Humble’s inventory encompasses items ranging from like-new condition to those without original packaging but still in good working order. Through its collaborations with various corporations, Humble has diverted over 250,000 kilograms of electronic waste away from landfills, a feat equivalent to preventing the disposal of 116,279 laptops, 6250 residential split-type air conditioners, or 185 Honda Civics. 

Currently serving more than 75 clients, including prominent companies like Canva, Manulife, and Sunlife, Humble plans to continue expanding its reach and impact on environmental sustainability.

Expressing support for Humble’s mission and growth, Jason Gaisano, Co-founder and Managing Partner of Gobi-Core Philippine Fund, highlights the importance of circular economy initiatives in combating e-waste. Recognizing Asia’s substantial contribution to global e-waste, Gaisano encouraged circular economy practices, praising Humble’s efforts in spearheading sustainable solutions within the Philippines and beyond.

Humble Sustainability, founded in 2021 by Josef Werker and Nina Mirabueno Opida, champions the circular economy by assisting businesses in selling their outdated IT equipment rather than discarding it, thereby diminishing electronic waste. The startup not only aids clients in achieving their Environmental, Social, and Governance (ESG) objectives and supports partners’ Corporate Social Responsibility (CSR) endeavors by establishing ESG funds for charitable donations or financing.

With a mission to circulate one billion items by 2030, Humble aims to offer its clients comprehensive data-driven reports and analytics, empowering them to efficiently achieve their ESG objectives. 

Also Read:

• How an Inventory Robot Solves a $100 Billion Dollars “Retail Shrinkage” Storm?
• Crowdworks AI to Participate in VIVATECH 2024, Strengthening European Market Presence
• Vertex Ventures Japan Launches $64.24M Fund for Japanese Tech Startups
• Chainstack Secures Strategic Investment to Advance Web3 Infrastructure
• 9Unicorns Evolves into 100Unicorns: Launches $200M Fund for India’s Startups