Founder One, one of the most active investment companies in Turkiye recently, has invested in Wastespresso, a local enterprise that transforms coffee waste, over a valuation of $3 million.
Wastespresso, on its way with its zero waste mission, regularly manages the micro coffee wastes of the businesses that generate coffee waste and transforms these wastes into bio-raw materials with its sustainable technological infrastructure, announced that it has received an investment with a valuation of $3 million from Founder One, which invests in Turkiye-based impact-oriented startups with pioneering ideas.
Wastespresso, a pioneering and innovative company in preventing the damage caused by coffee waste to the world, by regularly managing the micro-coffee wastes of companies, thanks to its sustainable technological infrastructure, it offers a wide variety of biomaterials such as cups, flower pots, straws, spoons, panels, spoons, etc. to all companies that have bioplastic and disposable/reusable product portfolios for the packaging industry from coffee waste. Wastespresso, which supports companies in creating a sustainable product portfolio and adapting to environmental policies through sustainable communication, with the alternative raw material production and micro waste management system it has developed, it also calculates the carbon emissions of companies in this area and regularly reports this data to companies with the reporting service recognized by international organizations.
“Our goal is to establish the global coffee waste management chain”
Wastespresso Co-Founder Cavid Bayramli said in a statement to egirisim;
“More than 2.25 billion cups of coffee are consumed in the world every day and it is estimated that the demand for coffee will reach 9.8 billion by 2050. 1 ton of coffee waste produces 340 cubic meters of CO2 and methane gas. Our goal is to establish the global coffee waste management chain and to minimize the damage that the world suffers from coffee waste. Founder One’s investment in our startup, which is a first in Turkiye, paved the way for our organization, which we strongly position with promising, sustainable solutions.”
“We are happy to invest in a local startup”
Founder One, Investment Committee Member and General Manager, Ali Sahin, who finances early-stage impact startups in Turkiye with the vision of accelerating Turkiye’s transformation towards becoming a developed country through entrepreneurship, stated that they are very happy to invest in a local startup such as Wastespresso, which manages and recycles coffee wastes of companies with the micro waste management system it has developed. Ali Sahin;
“As Founder One, which we, as the Turkish Entrepreneurship Foundation and the Turkish Informatics Foundation, in partnership with Maxis Private Equity Portfolio Management, we established exclusively for impact investments, we will continue to support startups that add value to the society by investing in other areas of influence”
Wastespresso Co-Founder Kerem Acar stated that the investment received from Founder One is encouraging for their startups;
“With this investment, as Wastespresso, we will continue our efforts to establish new production networks, increase our production capacity, improve quality, develop new products for different sectors and reach more coffee waste, which are among our future plans. We plan to increase our market share in Turkiye and expand to countries such as America, Germany and England through dealerships and collaborations in the long term.”
Vedat Levi, one of the Founding Partners of Wastespresso;
“Having the support of Founder One to innovate, expand our capabilities, and fund our growth startups is very important to us. As Wastespresso, we are taking strategic steps in the globalization process. We are positioning our R&D center as a hub in Turkiye, and we plan to optimize our operational expenses to enter new markets. We see this investment as an opportunity that will bring us closer to our goals.”
Wastespresso received an investment of $12.5 million from Erciyas Holding in 2020. In May 2023, he received an investment from Founder One with a valuation of $3 million.
Source: Egirisim / Prepared by Irem Yildiz