Aruna, Indonesia-based fisheries and marine platform announced a Series A investment round headed by Prosus Ventures and East Ventures for US$35 million (Growth Fund).
SIG, AC Ventures, MDI, Vertex Ventures, and other unnamed investors also participated in the round.
This comes after the business raised $5.5 million in funding last year.
Aruna intends to use the freshly obtained funds to grow its national footprint and enhance its supply chain infrastructure. It also aims to serve clients in new markets, broaden its product line, and improve its product.
Indonesia has about 17,500 islands and is presently the world’s second-largest fisheries producer, with a market value of more than US$30 billion.
Aruna was founded in 2016 to connect Indonesian fishermen with restaurants and exporters. Its mission is to promote fair fish trade, enhance the livelihood of local fishermen, and provide communities with inexpensive, high-quality seafood.
Local fisherman may sell their catch throughout Southeast Asia, East Asia, North America, and the Middle East through Aruna. Aruna has worked with tens of thousands of fishermen in 31 coastal locations in Indonesia, spanning Sumatra to Papua.
Currently, the firm has 21,300 registered fishermen spread throughout 13 Indonesian regions, with ambitions to increase that number.
Aruna has also hired Budiman Goh as President of the Company and Utari Octavianty as Chief Sustainability Officer to oversee and expand Aruna’s sustainability activities, in addition to the funding news.