Aditya Hadi Pratama · · 2 min readAC Ventures co-leads $5m round of Indonesian waste management firm
Waste4Change, an Indonesia-based waste management firm, has raised US$5 million in a series A funding round co-led by AC Ventures and Barito Mitra Investama, with participation from SMDV.
Waste4Change CEO Mohamad Bijaksana Junerosano (left) and COO Ridho Malik Ibrahim / Photo credit: Waste4Change
Founded in 2014, Waste4Change’s solutions help individuals, companies, and government agencies manage their waste. Customers can sort their waste that they can then take to dedicated drop-off points or have the startup pick them up.
The firm currently manages more than 8,000 tons of waste per year from 3,500 households and 100 corporate clients in 21 Indonesian cities. On top of its collection and recycling offerings, the company also provides waste consultation and education services.
Waste4Change was founded by venture builder Greeneration Indonesia (Ecoxyztem) and Bumi Lestari Bali (Eco Bali). It’s currently led by Mohamad Bijaksana Junerosano.
The company plans to use the fresh funding to expand its reach and increase waste management capacity to 100 tons per day in the next 18 months, and subsequently to 2,000 tons per day by 2027. It also aims to expand its staff from 108 to 160 employees, as well as to increase the number of its waste management operators from 141 to 441 personnel.
See also: Meet the players fighting plastic scourge in SEA
Other investors in the funding round include:
- Basra Corporation
- Paloma Capital
- Delapan Satu Investa
- Living Lab Ventures
- Urban Gateway Fund
Editing by Miguel Cordon and Lorenzo Kyle Subido
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