Pre-seed funding of $200,000 has been provided to Indonesian agritech company Agridesa by Multifield and Triputra Agro Persada, a division of the regional conglomerate Triputra Group.
Agridesa, which was established earlier this year, has created a closed-loop agriculture concept that links landowners and farmers. It begins farming initiatives using agricultural loans from banks and distributes the profits to all partners when the crops are harvested.
The business has an agreement in place to cultivate five hectares of land in West Java for the purpose of growing chilies, and it plans to develop this into a 15,000-acre area.
Another aspect of Agridesa’s operations is commerce, which links food producers with lodging, dining, and catering establishments. The company generates 2 billion rupiah (about $134,000 USD) in income each month, the most of which comes from its trading division. By August of the following year, the company hopes to grow its monthly sales to about US $670,000.
In order to acquire harvests from the marketplace, the business has teamed with Triputra Group-backed agritech startup Kedai Sayur. It also has partnerships with the seed supplier East-West Seed and the lender Bank Rakyat Indonesia, which provides financing for agriculture.
Agridesa was founded as a joint venture between Capital Commerce, managed by former Triputra Agro Persada executive Muhammad Iqbal, and Katalys Partners, led by former MDI Ventures investment officer Rama Manusama.
Allen Nicholas, a former employee of the software firm Ramco Systems, together with former TaniHub employee Luqman Arif and serial entrepreneur Kristian Harahap, lead the business.
The company intends to utilize the new capital to expand its two primary companies and create new products.
