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Huge congrats to Octopus Indonesia on raising an oversubscribed round of $5 million led by SOSV and Openspace Ventures!

According to The World Bank, Indonesia produces 4.8 million tons of plastic waste each year that ends up uncollected, chucked into dumpsites or leaked from improperly managed landfills.

Concerning the problem, Moehammad Ichsan, Hamish Daud, Niko Adi Nugroho, Rizki Mardian and Dimas Ario Rubianto, who have known each other for over a decade, founded Octopus Indonesia to provide a reverse-logistic platform that makes it easier to collect back waste products from consumers and recycle it into raw materials that brands can reuse.

The company currently has 150,000 monthly active users and more than 60,000 waste collectors on its platform, and operates five sorting facilities and 1,700 checkpoints in Jakarta, Bandung, Bali, and Makassar, handling 380 tons of waste every month. According to it, the Indonesian government will have spent $5.1 billion on creating a circular economy for more brands as of 2025, and Octopus will become the first platform to offer an end-to-end recyclable waste management logistics platform.

Read more on TechCrunch at: https://buff.ly/3aiT6Er

We're so happy to witness this success, Octopus!

Chinaccelerator 中国加速 SOSV MOX William Bao Bean Oscar Ramos

Big congrats to SOSV SOSV MOX-backed 24SEVEN 🚀 on closing a $6 million pre-Series A, led by SOSV and joined by Betatron Venture Group, Newlin VC, Verity Capital, Argo’s Quest, angel investors Babs Ogundeyi, Murtaza Ahmed, and several notable Pakistani and international family offices!

The company was founded by Jarrar Shah, Maha Khalid and Kashif Mukhtar, and started out as a direct-to-consumer store previously named https://buff.ly/3R6aNYi. It developed its B2B2C model during the Covid-19 lockdowns, serving Pakistan’s 2 million mom-and-pop shops, and rebranded itself as 24SEVEN in early 2021.

According to Tech in Asia, 24SEVEN’s store-specific data currently helps simplify the ordering process for up to 80% of a shop’s inventory. Shop owners also benefit from lower costs and can better manage their cash flow with financing.

Commenting on the investment, William Bao Bean, General Partner at SOSV, said, “Mom-and-pop stores are the building block of communities across Pakistan, and 24SEVEN is enabling them to sell not only physical but also digital goods.”

Read more on Pakistan Today at: https://buff.ly/3R9ZKgA

We're so thrilled to see your achievement and be part of your journey to success. Continue the great work 24SEVEN 🚀 Jarrar Shah Maha Khalid Kashif Mukhtar!

SOSV-backed Lipa Later Group (MOX12) has partnered with Telkom, the South African wireline and wireless telecommunications provider that operates in more than 38 countries in the African continent, to enable Kenyans to access smartphones through credit!

The agreement seeks to increase smartphone pe*******on in Kenya to boost users' incomes through the digital economy.

“We are delighted to kick start this partnership with Telkom that will enable both our customers to get and stay connected by acquiring mobile and data devices affordably," Lipa Later CEO Eric Muli said. According to him, consumers now will be able to get mobile gadgets on credits at Telkom stores in less than five minutes after signing up onto the platform with up to 12 monthly installments.

Read more on Business Daily Africa at: https://buff.ly/3I3K3Du

We're very excited to see you succeed and huge congratulations, Lipa Later Group and Eric Muli!