Midori Closes $200,000 Pre-seed Round
Founded in 2023 by Fedor Smirnov, Midori aims to develop 1,000 mobile recycling modules within seven years.
UAE-based climatetech Midori Network, nurtured within the ecosystem of TECOM Group PJSC's business incubator in5 Tech, has secured $200,000 in funding from Kirill Veselov, an angel investor and former investment director of venture capital firm Mint Capital.
The capital injection is will go toward launching the first prototype of a container-based mobile recycling module which is designed for easy deployment in rural areas, where installing large recycling facilities may not be economically viable.
Founded in 2023 by Fedor Smirnov, Midori Network aims to develop 1,000 mobile recycling modules within seven years, converting over 1 million tonnes of plastic waste annually into affordable solutions for local communities in key global markets such as Brazil, India, Pakistan, Indonesia, and China.