Surplus Indonesia noted its revenue growth has achieved an average growth rate of up to 400% in 2022 – 2023.
Heaptalk, Jakarta — Surplus, Indonesia’s greentech startup to mitigate food waste, announced to open its Pre-Series A fundraising. Before executing this fundraising effort, this greentech startup based in Indonesia bagged seed funding from a leading investor, namely Salam Pacific Indonesia Lines (SPIL) Ventures, in early 2023.
In response to this effort, the Co-Founder and CEO of Surplus Indonesia, Agung Saputra, delivered that this Pre-Series A fundraising is targeted to back the startup’s intention to expand its business-to-business (B2B) service in the country. Concurrently, Agung also aims to allocate the fund raised to broaden the business-to-consumer (B2C) scheme.
Refers to the United Nations Environment Programme (UNEP), in 2021, Indonesia generated about 20.93 million tons of food waste annually. Indonesia’s Ministry of National Development Planning (Bappenas) also estimates that Indonesian society originates food waste an average of 115-184 kilograms yearly.
To resolve this issue, Surplus Indonesia cooperates with multiple players in the Hotel, Restaurant, and Caffe (HORECA) sector to sell excess food that is still of good quality, safe, and suitable for consumption at 50% more affordable prices through the first food rescue application in Indonesia. By implementing this food management scheme, consumers can get quality food at a half-price discount. Meanwhile, sellers can minimize losses and reduce the amount of wasted food.
“By partnering with numerous impact investors who have a vision that is in line with Surplus Indonesia, it is ready to take the company’s goals further in overcoming the problem of food waste and food loss, which is expected to contribute to environmental protection.” CEO Agung said in his statement.
With its business model, Surplus Indonesia has preserved around 100,000 tons of food and prevented an economic value loss of up to US$150,000. The startup also recorded the number of CO2 emissions controlled had reached 2,000 tons.
In its journey, the company has also achieved an average growth rate of up to 400% in 2022 – 2023. Hitherto, Surplus has resolved the food waste matters in several regions in Indonesia, covering Jakarta Greater Area, Bandung, Yogyakarta, Surabaya, Malang, and Bali, with an active application of over 200,000 and partnered with over 4,000 food and beverage merchants in the HORECA sectors.
During 2023, this Indonesia’s greentech startup secured revenue enhancement on an average of 21% monthly. With its outstanding achievement, this startup aims to manage food waste of up to 100 tons, expecting to minimize the business loss of Indonesian entrepreneurs worth US$100,000 and prevent the potential CO2 emission of 1,000 tons this year.
