Fazla is a Turkish waste management company, reducing waste and waste-borne carbon emissions across the supply chain. The B Corp firm has successfully saved over 58,000 tons of food from being wasted and prevented 83,000 tons of carbon emissions, making a significant positive impact on the environment.
Founded in 2016 by Olcay Silahlı and Arda Eren, the company has just announced it has raised $6 million investment at $43 million valuation as it begins to make an impact on waste management in the Spanish market.
“As Fazla, we not only carry the mission of reducing waste and pioneering the waste management sector but also be the change maker to create impact for the world, transform the existing business models in that way and stand as an example for youth. In this perspective, we are an engineer powerhouse, creating tailor-made waste management solutions in line with the local needs, the laws and regulations, and the scope of our partners," says Olcay Silahlı, CEO of Fazla.
The investment round was led by Esor Investment and 212. Funds will further fuel Fazla efforts towards accelerating its operations in Spain.
“As a deep tech organisation, we develop all our technology-based waste management solutions in-house and connect all our seven products with a holistic approach, increasing our impact exponentially with our data-oriented 360-degree perspective, where traceability and scalability are at the forefront. From web and mobile development to image recognition technology, artificial intelligence to machine learning, internet of things to e-commerce solutions; we dominate the waste management sector with our wide range of technology networks," says Arda Eren, CTO of Fazla. “With this investment, we’ll continue our R&D investments to strengthen the solutions we have developed and expand our product portfolio.”.
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