Harcy, a domestic venture producing building insulation materials from textile waste, secures $350K investment led by Kuveyt Turk Portfoy, with participation from Arz Portfoy and Ahu Serter.
Turkish startup Harcy, specializing in developing next-generation construction materials from waste to foster a circular economy, has secured $350,000 in seed funding. Led by Kuveyt Turk Portfoy, the investment round also saw participation from Arz Portfoy and Ahu Serter.
Their flagship product, Harcy Polyester Wool, stands out as an eco-friendly and cost-effective building insulation material, effectively addressing thermal and sound insulation needs.
According to Harcy, the investment will primarily be used to scale up production capacity to meet the growing demand in Turkiye and expand market reach for their existing insulation products.
Globally, approximately 300,000 tons of textile waste is generated daily, while in Turkiye alone, 45 million square meters of building facades undergo insulation annually.
Harcy aims to revolutionize the insulation sector with their technology, capable of transforming 90,000 tons of textile waste per year into valuable construction materials.
Moreover, building regulations increasingly mandate the use of insulation materials on building facades. Harcy offers an environmentally friendly alternative with cost advantages compared to conventional materials.
Melih Gazi Kusum, co-founder of Harcy, stated, “Our goal for 2024 is to establish Harcy Polyester Wool as a recognized and widely used product in the market, initiate necessary steps for international markets, and introduce complementary construction materials derived from waste.”
Having been part of prominent incubation programs such as Lonca Entrepreneurship Center, ITU Pre-Incubation and Incubation Programs, Harcy is currently involved in TİM-TEB Entrepreneurship House, Müsiad GM2, and Habitat Future Lab programs.
Source: Egirisim / Prepared by Irem Yildiz