According to Tech In Asia, Surplus, an Indonesian-based GreenTech Firm touting themselves as the number one food rescue application in Indonesia, has successfully managed to raise an undisclosed amount of seed funding from Salam Pacific Indonesia Lines (SPIL) Ventures, an investment arm of the local logistics company.
Established in March 2021 by Muhammad Agung Saputra and Calvin Rudolph, Surplus enables customers to buy overstock products from F&B businesses at a 50-percent discount at certain times.
The company has forged partnerships with prominent malls and hotels such as Sarinah Mall, Marriott International Group, Swiss Belhotel Indonesia, and Ascott Group. Surplus is also working with F&B merchants in six Indonesian cities, say Tech In Asia.
The startup said that it has around 100,000-active users and has sold more than 30,000-tonnes of excess food.
Surplus plans to use the fresh funding to onboard more users and establish partnerships with more institutions. It also aims to develop a B2B model to prevent food waste.
Source: Tech In Asia