Magalarva Secures USD 500K Seed Funding

Sustainable protein producer Magalarva has reportedly received US$ 500,000 in seed funding from a multinational conglomerate that has not been named.

The start-up operates in Greater Jakarta and focuses on bioconverting organic waste into sustainable protein.

Using the Black soldier fly and its larvae to effectively accelerate the decomposition process, the resulting protein is highly nutritious and multipurpose. It is commonly used in animal feed, pet food and organic fertilizer.

It currently produces around 50 tons of larvae and 30 tons of organic fertilizer, processing more than 200 tons of organic waste. The company’s goal is to reduce the amount of organic waste ending up in landfills such as Bantar Gebang in Bekasi, West Java, and to become a sustainable source of protein.

To achieve that end, Magalarva announced that the funds it received would primarily be used to expand its operation. CEO Rendria Labde stated: “We are going to build our flagship facility [Greater Jakarta]. In this facility, we expect to expand our production to 5 tons of larvae per day while managing up to 30 tons of organic waste per day.” The remaining funds will be spent on further research on production efficiency and automation, expanding the company’s available expertise and assisting the product in penetrating the global feed market.

This article was published in thejakartapost.com with the title "Sustainable protein producer Magalarva secures $500k in funding". Click to read: https://www.thejakartapost.com/youth/2019/06/22/sustainable-protein-producer-magalarva-secures-500k-in-funding.html.