Phuc Labs
About this raise
Phuc Labs, with a valuation of $18 million, is raising funds on Republic. The company has modernized recycling technology for e-waste and valuable earth metals. The technology of Phuc Labs is a digital innovation and uses computer vision and robotics to identify and recover resources from waste with high accurate and low energy. The technology, Vision Valve, analyzes the resource particles and directs them through robotic valves to the correct output tank. Phuc Vinh Truong founded Phuc Labs in November 2020. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1.24 million. The campaign proceeds will be used to scale the customer pipeline, expand the team, and expand the IP portfolio.
Investment Overview
Invested : $184,044
Deal Terms
Total Commitments
- Platform
- Republic
- Start Date
- 10/07/2022
- Close Date
- 02/07/2023
$25,000
$1,235,000
$100
SAFE
Early Stage
RegCF
$18,000,000
0%
Company & Team
Company
- Year Founded
- 2020
- Industry
- Energy, Power, & Natural Resources
- Tech Sector
- Distribution Model
- B2B
- Margin
- Low
- Capital Intensity
- High
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Humans produced 53.6 million tons of e-waste in 2019 and will produce 74.7 million tons yearly by 2030. So I try to keep a good conscience by not overconsuming electronics. But my good deeds will not change the rare metals supply chain.
Hopefully, seeing the glass half empty or half full is a matter of choice -- and startup innovation might help it look fuller. E-waste is actually a gold mine of opportunity. As you might know, extracting these metals from the planet is costly. And like anything rare, they have a high value on the market. The price of gold reached new highs in 2022, the price of copper is in its highest range, and palladium is twice more expensive now than in 2018.
If the e-waste from electronics -- which includes those precious metals -- could be sorted and recycled, it would provide a lot of value. That’s why I’m excited to introduce Phuc Labs to you. This startup has new technology that can get the most out of e-waste.
Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $1,351,800
- VC Backed?
- Yes
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 02/07/2023 | Republic | $18,000,000 | $184,044 | SAFE | Funded | RegCF |
Founder Interview
Phuc Labs Co-founder Phuc Thien Truong Is Improving E-waste Recycling
What do metal ore and smartphones have in common? They both have small amounts of rare metals inside. But smartphones -- along with most other electronics -- end up in the trash with those rare metals still inside. More than 50 million tons of electronic waste (e-waste) are thrown out worldwide every year, most of it containing metal that can be reused.That’s where Phuc Labs comes in. The company has developed a patented artificial intelligence and robotic technology that can pick out and sort precious metals from e-waste. We spoke with the company’s co-founder and Head of Business Phuc Thien Truong about how this technology can be used now and in the future.
Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.