(L-R) Waste4Change Founders Mohamad Bijaksana Junerosano (CEO) and Ridho Malik Ibrahim (COO)
Indonesia-based Waste4Change has announced the completion of its US$5 million series A funding round co-led by AC Ventures and PT Barito Mitra Investama.
Basra Corporation, Paloma Capital, PT Delapan Satu Investa, Living Lab Ventures, SMDV, and Urban Gateway Fund, also participated.
The waste management startup will use the money to expand its reach and increase waste management capacity up to 100 tons per day in the next 18 months. It also aims to reach more than 2,000 tons per day over the next five years.
Waste4Change’s plan also involves integrating more digital technology into the monitoring and recording processes of the waste management flow and automating material recovery facilities. It will also strengthen partnerships with the country’s informal solid waste sector, which is currently powered by scavengers, waste banks, waste stalls, and waste aggregators.
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Established in November 2014, Waste4Change offers upstream and downstream waste management solutions consisting of consultation (research and studies related to solid waste), campaign (capacity building, education, and mentoring), collection (daily waste collection service that supports zero waste to landfill), and creation (waste recycling, extended producer responsibility, and waste credit).
The firm’s mission is to solve waste problems to prevent leakage into the environment and reduce the amount of waste in landfills.
The company operates in 21 Indonesian cities, managing more than 8,000 tons of waste annually. It has collected waste from over 100 B2B clients and 3,450 household clients. Since 2017, it has grown at a CAGR of 55.1 per cent.
Waste4Change Founder and CEO Mohamad Bijaksana Junerosano said, “Indonesia’s waste management sector is still growing, and we are more than ready to assist in the process. With its low 11-12 per cent recycling rate based on Ministry Environment and Forestry data, we know that many valuable materials are still ready to be brought back into the loop. Compared to what we experienced in 2014, today’s market is getting more mature. We will do whatever we can to provide solutions to every waste management need.”
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