Waste4Change – USD5 million Series A Fund Raising led by AC Ventures and PT Barito Mitra Investama
Congratulations to Waste4change, a leading Indonesia-based waste management company, for their successful Series A fund raising with an investment value of approximately USD5 million. The funding was led by AC Ventures and PT Barito Mitra Investama with participation from Basra Corporation, Paloma Capital, PT Delapan Satu Investa, Living Lab Ventures, SMDV and Urban Gateway Fund. Founded in 2014, Wasteforchange has been contributed to Indonesia’s recycling and waste management, where more than 3,500 households and over 100 B2B clients presently utilize its services and presently oversees the management of about 8,000 tons of waste every year in Indonesia. The investment is expected to support its expansion and increase to its waste management capacity up to 100 tons per day over the next 18 months, with the goal of reaching more than 2,000 tons per day in the next five years.
Continuing our series of successful deal closings, this deal will further strengthen the business and waste management capability of Wasteforchange and will eventually lead to a better recycle and waste management system in Indonesia.
Led by our Senior Partner Liyanto Wijaya and assisted by Muhammad Abdul Jabar, we are grateful to act as the Indonesian legal counsel for Wasteforchange and its shareholders. It is always been a pleasure for us to support the growing Indonesian waste management industry.
We sincerely congratulate once again to all the parties involved!
Please see the news here: https://techcrunch.com/2022/10/13/waste4change-is-building-a-circular-economy-in-indonesia/