RecyGlo, a Myanmar startup that has built a recycling pick-up service, has been accepted into the Katapult Ocean Accelerator Program from Norway and will receive a US$150,000 investment as part of the programme.
RecyGlo is trying to help Burmese companies improve their recycling habits by helping them schedule and arrange the delivery process. Essentially, if a company organises their recycling, RecyGlo will make sure it gets to the correct location.
Co-founder and CEO Shwe Yamin Oo explains as such,
“The current waste management in Myanmar is frangemented, inefficient and problematic. Our biggest concern is that waste is not properly managed and eventually going to rivers and ocean thus creating massive environmental problem. We make sure waste management and recycling easy, affordable, systematic and minimal impact on the environment.”
RecyGlo also has alternative products like waste awareness training, a corporate social responsibility programme and a waste auditing service.
It boasts clients like the International Finance Corporation, H&M and Panasonic.
The startup is entering Katapult in an effort to secure later stage funding with the goal of expanding into other cities in Myanmar.
As for Katapult, they were attracted to RecyGlo as a company that fights ocean plastic at the source. A significant chunk of ocean waste starts on land before being transported to the ocean via rivers. If plastic in developing nations like Myanmar can be transported to recycling centers, it may help decrease the amount of waste in our oceans.
RecyGlo had previously come out of the Phandeeyar accelerator programme where it received its first injection of financing.
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