A seed investment round headed by East Ventures has generated an unknown sum for the Indonesian agritech firm Chickin.
Ashab Alkahfi, Tubagus Syailendra, and Ahmad Syaifulloh founded Chickin in 2020, which offers IoT and data analytics technology for the production of broiler chickens. Its technology enables the administration of cages, monitoring of cattle, and climate control.
Through a data-driven B2B pairing process, the firm further provides financial assistance and extra sales channels to farmers.
The business claimed that, without going into detail, its sales increased by more than 50 times in the previous year. With a total of more than 2.6 million chickens, it has supplied more than 150 farms around the nation.
Chickin will use the additional money for company expansion, technological advancement, staffing, and partner recruitment.
“Agriculture is one of the sectors that are less digitalized, yet it is strategically important for our GDP. This sector has enormous potential given how staple chicken is to every Indonesian’s daily consumption,” said Melisa Irene, partner at East Ventures Indonesia.
In part because of rising internet penetration, international investment, and government efforts, Ken Research projects that Indonesia’s agritech industry would expand at a compound annual growth rate of 31 percent from 2022 to 2026.
