magalarva secured seed funding of usd 500k
In June 2019, Magalarva closed a USD 500K seed investment from Indonesian household-name multinational company. “We are going to build our flagship facility in greater Jakarta area. In this flagship 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,” said Rendria Labde, Chief Executive Officer of Magalarva.
MAGALARVA’S CEO INTERVIEWED FOR BERITA SATU TV’S ‘PEOPLE AND INSPIRATION’
Berita Satu TV visited Magalarva’s pilot facility to interview CEO Rendria Labde for the program ‘People and Inspiration’, discussing about the benefits of Black Soldier Fly larvae as the source of protein in animal feed, the prospect of insect-feed business, and how it can help farmers in Indonesia.
MAGALARVA TAKES ADVANTAGE OF BLACK SOLDIER FLY LARVAE
Since 2017, Rendria Labde established a startup named Magalarva, which is a producer of animal feed made from BSF larvae. "Quality is comparable to other animal feeds," he said. Everyday, they can produce dry protein up to 500 kg and 200 kg of organic fertilizer. To be able to achieve these results, he needed three tons of organic waste in the form of fruits and vegetables leftovers from partners.
MAGALARVA EYEing the export market
Insects - especially flies - do not merely harm society. There are also flies that benefit the environment such as the species Hermetia illucens or Black Soldier Fly (BSF). Magalarva, a startup company which was founded in 2017 under the name PT Magalarva Sayana Indonesia, makes it a profitable business opportunity. Magalarva focuses on the business of processing organic waste using the help of BSF larvae. They target the export market with an export potential of Rp 205 million per month.
Magalarva IS ONE OF SIX STARTUP TO CONCLUDE THE FIRST skala accelerator program
Magalarva is one of the 6 start ups that got selected (from 400+ applicants!) for the inaugural batch of SKALA, a startup accelerator program initiated by Salim Group’s Innovation Factory and venture capital firm Gree Ventures. SKALA is the first metric-driven and mentorship-focused accelerator program in Indonesia. Magalarva got pre-seed funding of $30,000 from SKALA, and at the end of the program, pitched our future business plans to potential investors.
For more info about SKALA: