Aditya Hadi Pratama · · 1 min readIndonesian greentech firm bags seed funding
Surplus, an Indonesia-based greentech firm, has raised an undisclosed amount of seed funding from Salam Pacific Indonesia Lines (SPIL) Ventures, an investment arm of the local logistics company.
Surplus co-founders Calvin Rudolph (left) and Muhammad Agung Saputra (right) with chief marketing officer Alya Fatina Diandari (center) / Photo credit: Surplus
Established in March 2021 by Muhammad Agung Saputra and Calvin Rudolph, Surplus enables customers to buy overstock products from F&B businesses at a 50% discount at certain times.
The company has forged partnerships with prominent malls and hotels such as Sarinah Mall, Marriott International Group, Swiss Belhotel Indonesia, and Ascott Group. Surplus is also working with F&B merchants in six Indonesian cities.
The startup said that it has around 100,000 active users and has sold more than 30,000 tonnes of excess food.
Surplus plans to use the fresh funding to onboard more users and establish partnerships with more institutions. It also aims to develop a B2B model to prevent food waste.
See also: These are the most active investors in Indonesia’s startups
Editing by Miguel Cordon and Lorenzo Kyle Subido
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