TechCrunch’s recent article “Octopus keeps stuff out of Indonesia’s crowded landfills” reports that Octopus (MOX 12) has secured an oversubscribed funding round of $5M led by SOSV and Openspace Ventures.
Octopus has created a circular economy platform In Indonesia geared to “Uber-ize” trash pickers, recycle waste products into reusable raw materials, generate profit for recyclers, and help brands harvest useful post-consumption data.
Octopus co-founder and CEO Andi Ichsan told TechCrunch that Octopus offers two kinds of services: selling waste materials to the recycling industry and collecting data for FMCG brands. “Apparently [crowded landfills] are . . . also in other cities in Southeast Asia,” Ichsan told TechCrunch. “So I started to explore more of the business by doing manual waste trading and trying to solve the problem one step at a time, starting with reducing recyclable waste that ends up in landfills by doing manual waste trading.”
By Hannah DeTavis