Indonesian technology-enabled integrated seaweed company Banyu announced the closing of a $1.25 million seed round of funding led by Intudo.
Established in December 2023, Banyu is an integrated seaweed company powered by technology that is reviving and revolutionizing Indonesia’s seaweed sector while providing local farmers with access to stable income, high-quality seedlings, and cutting-edge farming methods.
By removing market fragmentation, establishing an effective and transparent system, offering premium inputs, imparting knowledge of cutting-edge farming techniques, and introducing technology to empower smallholder farmers, Banyu hopes to revolutionize the seaweed value chain.
Indonesia is a vital link in the global seaweed supply chain and the world’s largest producer of tropical seaweeds.
However, Indonesia’s seaweed industry faces several challenges, including: (1) low-quality inputs that affect overall product quality and efficiency; (2) labor and cost-intensive farming practices; (3) lack of price transparency and inconsistent demand; (4) poor access to financing; and (5) nonexistent adoption of data or technology. This is because the majority of Indonesia’s seaweed industry is made up of smallholder farmers, with over a million people earning a living from seaweed cultivation.
According to Banyu, it aims to address these problems with its wide range of services, advancing Indonesia’s seaweed sector through technology, contemporary, sustainable farming methods, and focused assistance for local communities and farmers.
In order to improve market dynamics and quality assurance, Banyu collaborates closely with farmers, traders, and downstream processors. This helps to elevate Indonesia’s seaweeds, as well as seaweed-related products and extracts, in the international market.
Banyu’s strategy successfully raises local communities’ standard of living while encouraging efficient, ethical, and sustainable farming methods. In contrast to the currently popular practice of using derivative seedlings from prior harvests, Banyu’s spore seedlings have proven to be able to consistently increase yields by up to 20% through the company’s proprietary seedling production methods.
Under the leadership of Dodon Yamin, Chief Executive Officer; Anis Nur Aini, Chief Sustainability Officer; and Anthony Kwik, President Commissioner, Banyu combines expertise in microfinance, sustainability, and seaweed farming.
“As the first startup to focus on seedling cultivation with the aim of becoming the largest producer in the region, we are combining cutting-edge technology with deep local knowledge and expertise. This empowers smallholder farmers to achieve higher yields, access global markets, and adopt regenerative practices that benefit both the environment and their communities,” said Dodon Yamin, Co-founder and CEO, Banyu.
