East-West Digital News is happy to bring to its readers this business-as-usual, non war-related story. As industry publication RB.RU just reported, a Russian garbage recycling technology startup called Ubirator raised 170 million rubles (some $2.25 million at the pre-war exchange rate).
Founded in 2018 by Nikita Nikishkin and Alexey Khatskevich, two MIPT (PhysTech) graduates, Ubirator has developed an online platform to connect companies that generate secondary raw materials and construction garbage with providers that pick up the garbage and take it to recycling reception points.
The startup now operates in 40 regions of Russia. Its GMV reached 790 million rubles in 2021 ($10.7 million at the average exchange rate of the year).
Provided by three Russian funds — TealTech Capital, Grain Ventures and Era Capital — the latest capital injection (with the first tranche provided in 2021) has allowed Ubirator to develop an innovative ERP offer called Upay and to open new recycling collection points.
Russian startup raises millions to revolutionize garbage collectionRead More
