Humble Sustainability Secures Additional Funding to Amplify Circular Economy Endeavours in the Philippines

May 20, 2024

MANILA, 20 May 2024: Climate technology startup Humble Sustainability (Humble) has secured additional funding to expand its operations and scale its business.

The funding round was led by Asia-focused venture capital firm, Gobi Partners, through the Gobi-Core Philippine Fund (Gobi-Core). The Philippines government agency, National Development Company (NDC) through the Startup Venture Fund; quantitatively-driven investment company, Double River Impact; and Equitrust Holdings Inc as well as several high-profile strategic corporations and angels including those from XA Network participated in the follow-up round. The funding round follows Humble's oversubscribed seed round led by Seedstars International Ventures in late 2022.

Gobi-Core Philippine Fund Co-founder and Managing Partner, Jason Gaisano said: "We're delighted to back Humble's mission and growth locally and globally, contributing to the circular economy's expansion. Considering Asia has been previously recorded to contribute to almost half the world’s e-waste, it's encouraging to witness the rise of circular economy initiatives in the Philippines."

Humble is a startup that promotes a circular economy by helping businesses sell their old IT equipment instead of throwing it away, reducing electronic waste. They aid clients in reaching their Environment, Social and Governance (ESG) goals by reusing equipment. Humble's sustainability mission supports partners' Corporate Social Responsibility (CSR) goals by creating ESG funds for donation or financing.

With the ambitious goal of making one billion items circular by 2030, Humble supports this vision by providing clients with data-driven reports and analytics to guide them in achieving their ESG objectives.

Humble Co-founder and Chief Executive Officer, Josef Werker considers bringing partners and strategically valuable investors on board an honour, and an exciting milestone for the company. He said: “We’re so passionate and driven to help the environment in a significant and tangible way, and we won’t stop until we achieve our mission to use business in inspiring humanity to adapt to circular living. It feels like just yesterday that we planted the seed for Humble, largely inspired by my mother's commitment to climate activism. I hope this milestone makes her proud.”

Humble Co-founder and Chief Operating Officer, Niña Opida said: "I was born and raised in the Philippines, where my childhood experiences of thrifting filled me with joy and instilled an early awareness of the value of repurposed items. My goal is to address challenges creatively, sustainably, and meaningfully. By connecting my personal experiences and observations with my passions, I am driven to foster a culture of circular living."

Since its inception, the co-founders, along with their business partner and Humble's Business Development Head, Enzo Pinga, have established partnerships with leading corporations to fulfill their mission.

Through these collaborations, Humble has successfully diverted over 250,000 kilograms, the equivalent of 116,279 laptops, 6250 residential split-type air conditioners, or 185 Honda Civics, of e-waste from landfills. They've achieved this milestone by leveraging their extensive network of more than 75 top-tier B2B clients, which includes renowned companies like Canva, Manulife and Sunlife.

The strong demand for their services has further demonstrated the adaptability and willingness for circular living within the business sectors, which drives Humble’s next foreseeable objective of scaling the company’s national growth and building the foundation for possible regional expansion.

About Humble Sustainability
Humble is the Philippines' leading climate technology company on a mission to bring back 1 billion items into circularity. We help businesses earn high revenue by selling their tech equipment and work hand in hand with our clients to create, track and achieve their ESG initiatives.