Circulate Capital, a Singapore-based impact investor firm, has announced two investments for Indonesia, while climate tech startup GreenTeam has raised an undisclosed amount in Series A funding.
Circulate Capital backs plastic recycling companies
Circulate Capital has announced two investments for Indonesian plastic recycling companies PT Pelita Mekar Semesta (PMS) and PT Polindo Utama (Polindo), as part of its strategy to scale circular economy solutions in the region, according to the company’s statement.
Though the deals were undisclosed, Dondi Hananto, its associate investment partner for Southeast Asia and Head of Indonesia, told DealStreetAsia that the investment is in the range of $3-7 million per deal.
“With the right mix of growth capital, technical support, and market access, companies like PMS and Polindo can become national and regional champions in closing the loop on plastic waste,” said Hananto in a statement.
With these latest deals, Circulate Capital has now backed 23 companies across Asia and Latin America, collectively adding more than 455,000 tonnes of new annual recycling capacity and reducing over 600,000 tonnes of CO₂ emissions to date.
PMS and Polindo mark the third and fourth Indonesian portfolio firms for Circulate Capital after Reciki and Prevented Ocean Plastic Southeast Asia. Circulate exited its investment in Tridi Oasis in 2022.
Indonesia generates an estimated 6.8 million tonnes of plastic waste annually, with over 70% at risk of leaking into the environment. While recycling infrastructure remains fragmented, local private-sector players have started to scale up in response to corporate sustainability targets and emerging policy mandates.
GreenTeams raises funding
GreenTeams, an Indonesia-based climate tech startup, has raised an undisclosed amount in a Series A round led by Oriza Greenwill Technology Fund, a joint fund backed by China’s Oriza Holdings and Singapore’s Greenwillow Capital.
The new capital will be used to scale nationwide deployment of monitoring systems across energy, manufacturing, and urban sectors; advance AI-powered predictive tools for environmental forecasting and emissions analytics; expand environmental data platform integrations to serve more clients; and build capacity for regional expansion beyond Indonesia.
Wilson B. Sutarko, CEO of GreenTeams, said in a statement that the company is launching an extended round of funding.
Established in 2012, GreenTeams has evolved into a full-stack climate tech provider with deployments across more than 30 Indonesian provinces.
