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noovoleum
noovoleum runs UCOllect, an app and network of smart collection boxes where households and small food businesses deposit used cooking oil and get paid, with a profit-sharing model. The oil is recycled into eco-friendly products and biofuel. It operates mainly in Indonesia, where it launched in Bandung in September 2023 and deployed 100 boxes in 2024. It raised a $3M seed round led by Rigel Capital in February 2025 to scale toward 1,000 Indonesian collection points and three more Asian markets. Dealroom also lists a ~$1M investment from Alfamartku in July 2025.
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