Indonesia generates approximately 7.8 million tons of plastic waste annually, with 4.9 million tons of it being mismanaged. That includes being uncollected, disposed of in open dumpsites or leaked from improperly managed landfills.
Octopus was launched in 2021 as the first platform to offer an end-to-end recyclable waste logistic platform. It is redefining the circular economy in an emerging market by transforming people’s perception and behavior towards waste management, waste collectors and by empowering relevant stakeholders.
Octopus has developed a unique and innovative business model. Their end-to-end platform provides a solution for recycling industries to acquire their materials in the most efficient way by involving informal sectors. Octopus empowers them by providing access to both supply and demand and pricing transparency – with local waste collectors earning 10 times more by using their platform.. Each waste collector is equipped with a smartphone to get full transparency on supply and pricing and access to digital wallet in the application. This allows the whole collection and drop-off process to be seamless and captured digitally.