A series A fundraising round headed by Alpha JWC Ventures and including Gojek investment arm Go-Ventures garnered $35 million for Indonesian agritech company AgriAku.
AgriAku is the only agritech business to get money from the VC funds of three of the biggest state-owned corporations in the nation: MDI Ventures, BRI Ventures, and Mandiri Capital Indonesia.
AgriAku is a B2B marketplace that was established in May last year and links providers of agricultural inputs including seeds, fertilizer, and agrochemicals with dealers of farming equipment, known locally as toko tani. Every transaction generates income for it from the margin.
Currently, the business has more than 20,000 shops using its network, most of which are situated in Java Island, Lampung, and South Sulawesi.
Serial entrepreneur Irvan Kolonas and co-founder of Airy Danny Handoko founded AgriAku. Hundreds of people work for it at the moment, the majority of whom are field-based operating teams.
Recently, it hired two C-level executives: Valmik Mirani, formerly of Tokopedia, and Abraham Soedjito, formerly of Traveloka, both as chief strategy officers.
The agritech company intends to utilize the new financing to enhance unit economics, increase income sources, and add additional staff members to its product and technical teams.
More than 20,000 merchants are presently using the company’s platform, and most of them are situated on Java Island, Lampung, and South Sulawesi.
Danny Handoko, an Airy co-founder, and Irvan Kolonas, a seasoned businessman, founded AgriAku. As of right now, it employs hundreds of people, the majority of whom work on the field’s operating teams.
Two senior executives were recently hired by the company: Valmik Mirani, formerly of Tokopedia, and Abraham Soedjito, formerly of Traveloka.
The agritech company intends to utilize the additional money to improve unit economics, increase income sources, and add more staff members to its product and technical teams.
