In late 2022, Indonesian biotech startup Nusantics was on the edge of collapse—it had over $1 million in debt, just $200,000 in the bank, and no clear leadership.
Fast forward to the present day, and the company is on the verge of EBITDA-positivity thanks to a leaner, more focused structure. It grew its EBITDA ninefold, slashed net losses by five times, and pulled in $1.6 million in revenue in 2024.
By mid-2025, the East Ventures-backed startup may become debt-free and is looking to scale, according to its founder and chief executive officer, Revata Utama, who took the helm of the company amid the upheaval in mid-2023.
“We were one bad month away from going under,” Utama recalled in an interaction with DealStreetAsia. “It was one of the toughest periods of my adult life—not just professionally, but emotionally as well.”
