fbpx

Don't worry, we speak : Español (Spanish), too!

Arqlite may soon close its Series A for US$2.5 million

Don't worry, we speak : Español (Spanish), too!

Contxto – The construction industry in the United States is in for some serious disruption. Arqlite, a startup founded by Argentine entrepreneurs, created a special gravel that’s lightweight, a great insulator, and made from recycled plastic. 

What’s even better news is it’s almost fully-funded to launch in California. The startup’s CEO, Sebastián Sajoux, recently told Contxto that its goal is to close US$2.5 million for its Series A and thus far, it’s raised US$1.7 million. Round participants include CEMEX Ventures, Coca Cola, Arcor Group, as well as a couple of angel investors.

The funds are tagged to open a manufacturing plant in California and soft-land its operations into the US. Arqlite’s new center of operations will produce around 1,500 tons of its special “Smart Gravel.” 

Besides closing the round, the startup is also looking for partners in the United States to pilot test its product for their own projects.

Get weekly exclusive insights, data and analysis on the Latin American tech ecosystem straight to your inbox!


Arqlite’s smart gravel

Arqlite was founded in 2015 and had previously closed US$200,000 in 2016.

That same year it carried out the heavy-lifting in research and development for its flagship product, a lightweight aggregate for construction and gardening. This material is made from plastic waste so it’s good for the environment.

Then in 2018, it raised another US$600,000 and officially launched into market in 2019.

At the moment, it has a small manufacturing plant in its native Argentina and produces an average of 50 tons of its special gravel per month.

Further down the line, Arqlite expects to launch in Europe where there’s an even larger market eager for eco-friendly solutions. It also wants to explore other materials for lightweight construction projects in 2021.

But, geography aside, the startup’s overarching goal is an all-encompassing one. 

We’re driven to solve how we consume plastic. That’s what motivates us. That’s our vision for the long term,” said Sajoux to Contxto.

Fortunately for our planet, embracing eco-friendly products isn’t a passing trend, but a permanent and pressing concern.

As a result, industries everywhere are looking to reduce their carbon footprint and Argentine Arqlite is playing a role in “building” that greener future.

Related articles: Tech and startups from Argentina!

-ML

Mariana López
My topic darlings are startup management, edtech, and all-things pop culture. J Balvin is Latin America's best reggaetonero and I dare you to convince me otherwise.

Must Read!

Uruguay’s Kona expands to Toronto after closing major banking client

0
Contxto - While Uruguay and Canada aren’t necessarily two countries you’d usually relate to one another, Kona, an Uruguayan startup is finding...