HomeTechnologyIndonesian agritech AgriAku reaps $6M in pre-Series A funding – TechCrunch

Indonesian agritech AgriAku reaps $6M in pre-Series A funding – TechCrunch

AgriAku, a Jakarta-based B2B market for farmers, introduced right this moment it has raised a pre-Series A of $6 million. The spherical was led by Go-Ventures, with participation from MDI Arise, MDI Centauri, Mercy Corps Social Venture Fund and angel traders. The funding will probably be used on hiring and rising AgriAku’s market penetration.

The market allows retailers to purchase provides, together with seeds, fertilizers and agrochemicals, from wholesalers and producers. Then the retailers promote these gadgets to farmers. AgriAku’s objective is to present retailers and farmers a much bigger number of merchandise and entry to clear pricing. It additionally provides suppliers enterprise software program, like bookkeeping and stock administration instruments, to assist them make forecasts about what farmers will want. 

AgriAku’s market launched in May 2021 and the corporate says it has seen common month-on-month development of 200% in gross merchandise worth over the previous 4 months. The variety of energetic customers on AgriAku is now about 10,000 registered farmer shops. 

The firm was launched final yr by Irvan Kolonas, additionally founding father of social enterprise agritech startup Vasham and Danny Handoko, whose was beforehand CEO of Airy, an Indonesian hospitality startup. The group additionally contains Rezky Haryanto Agustia, former assistant vice chairman for provide chain and operations at e-commerce big Bukalapak. 

Kolonas instructed TechCrunch that AgriAku is a “culmination of a lifelong mission for me, as 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 model helping smallholder corn farmers.”

After spending years attempting completely different fashions, together with direct-to-farmer and retail shops, Kolonas mentioned he realized it was not sustainable to promote on to farmers. “Instead, we believe firmly now that the most important stakeholder is the Toko Tanis. The Toko Tanis are our mitras or agents who distribute not only inputs but eventually 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 surrounding areas.” 

AgriAku is the most recent amongst a number of agritech startups in Indonesia which have just lately introduced funding rounds. Other B2B marketplaces embrace TaniHub Group, which focuses on connecting farmers with prospects to promote their produce. Kolonas mentioned AgriAku finally additionally desires to allow farmers to promote produce, by connecting them to offtakers, or factories like rice millers or corn dryers 

In a ready assertion, Go-Ventures accomplice Aditya Kamath mentioned, “Indonesia’s agricultural industry contributes significantly to the economy, at approximately 13.5% of GDP. However, the upstream agricultural market is highly fragmented with a disorganized value chain for agricultural inputs such as seeds, fertilizers and agrochemicals.” He added, “AgriAku’s B2B input marketplace platform is ideally positioned to improve price transparency and market access for all stakeholders in the agricultural inputs sector.” 



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