A Jakarta-based B2B marketplace for farmers has raised $6 million. The round was led by Go-Ventures, with participation from MDI Arise, MDI Centauri, and angel investors. The funding will be used to hire and increase market penetration.
The marketplace allows retailers to buy supplies from manufacturers and wholesalers. Retailers sell those items to farmers. The goal is to give retailers and farmers a bigger selection of products and access to transparent pricing. Suppliers can use the business software to make forecasts about what farmers will need.
Over the past four months, the company says it has seen an average month-on-month growth of 200% in gross merchandise value. About 10,000 farmer stores are registered with AgriAku.
The company was founded last year by Irvan and Danny, as well as Vasham and Airy's CEO, Danny Handoko. The team includes a former assistant vice president for supply chain and operations.
I first took on the mission 10 years ago with the start of my first company Vasham, a social enterprise, doing a full close-loop, full-stack.
After years of trying different models, including direct-to-farmer and retail stores, he realized it was not sustainable to sell directly to farmers. The Toko Tanis are agents who distribute inputs and other services to farmers. We want to leverage the decades of relationship that have been built up by them as community leaders with the farmers in their area.
Indonesian agritech platform TaniHub Group harvests a $65.5M Series B round
Several agritech startups in Indonesia have recently announced funding rounds. TaniHub Group is a B2B marketplace that connects farmers with customers. Farmers will eventually be able to sell produce by connecting them to offtakers, or factories like rice mills or corn dryers.
In a prepared statement, Go-Ventures partner Aditya Kamath said that Indonesia's agricultural industry contributes to the economy at 13.5% of GDP. The B2B input marketplace platform is ideally positioned because of the fragmented value chain for agricultural inputs.
Predicting the next wave of Southeast Asia tech giants
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