Alpha JWC Ventures led $6.9 M Series A funding raised by Beleaf to expand its FaaS
Despite the fact that much of Indonesia’s land is suitable for agriculture, farming in the country is highly fragmented. More than 70% of farmers in the country are smallholders who lack access to financing, technology, logistics, and effective go-to-market support.
Beleaf Farms, an Indonesian startup, is betting on providing farming as a service (FaaS) to address these issues. It is developing an integrated platform to provide farmers with access to input and technology while also connecting farms with agronomists and retailers.
The company claims that its services, which are powered by big data and IoT, have helped partner farms increase yield by 15%.
Beleaf, founded in 2019 by Amrit Lakhiani, began as a hydroponic brand of leafy greens before expanding to sell other farming products and eventually venturing into the FaaS model, which is free and exclusive to the firm’s partners.
The startup sells the products of its FaaS program, which includes leafy greens and root vegetables, in four countries. Its products are available in over 180 retail outlets throughout Greater Jakarta, eight online channels, and several restaurants. The company claimed to have distributed 700 tons of produce in May 2023 alone.
Beleaf Farms’ latest funding round aims to expand into six more countries by the end of 2024. It also intends to expand within Indonesia, specifically to Bali, Lembang, and Medan, where research and development farms will be established. By next year, the company hopes to have at least 2,000 farmers using its network.
In Southeast Asia, Indonesia has emerged as an agritech hotspot. Most notably, after closing its US $200 million series D round last month, eFishery was named Indonesia’s latest unicorn.
