Elevarm, an Indonesian agritech startup that aims to enhance the yield and income of smallholder horticulture farmers throughout Indonesia, has raised US$4.25 million in pre-Series A financing led by Intudo. Existing investors Insignia Ventures Partners and 500 Global participated.
Founded in 2022, Elevarm specialises in horticulture production and the provision of “high-quality” agricultural inputs, including superior seeds, bio-based fertilisers, and environmentally friendly pest control solutions. A key component of its operations is its in-house research and development (R&D) division, which creates innovative and sustainable agricultural inputs that improve soil health, promote biodiversity and increase crop resilience.
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Its seedlings are produced in advanced greenhouses, ensuring stronger and healthier plants for improved and more consistent harvests.
Elevarm employs large-scale farming production standard operation procedures (SOPs) that cover all critical stages of cultivation, from land preparation to harvesting. Its mobile app leverages AI to provide the on-ground team with real-time insights, data-driven recommendations, and precision farming techniques.
This facilitates the adoption of advanced cultivation methods like integrated pest management, efficient irrigation, and optimised planting strategies, aiming to maximise yields while minimising environmental impact.
Elevarm collaborates with over 30 partners, including Indonesia’s Ministry of Agriculture, the Ministry of Cooperatives and SMEs, Institut Teknologi Bandung (ITB), IPB University, Padjadjaran University (UNPAD), Bank BJB, Amartha, Rabo Foundation, Reliance Finance, Transform (Unilever, UK FCDO, and EY), and other governmental and non-governmental organisations, as well as R&D labs.
The startup claims it currently supports over 15,000 farmers across West Java, Central Java, and Yogyakarta.
The funding round will help it expand its range of seedling varieties, offering farmers more options tailored to their specific land and objectives. Secondly, it will invest in the development of new agri-inputs through NextBio, focusing on bio-based fertilisers and pest control solutions to enhance soil health and crop resilience.
Thirdly, the firm plans to launch artificial intelligence (AI)-powered digital tools designed to provide real-time insights, optimise farming practices, automate tasks, and support smarter decision-making for farmers and the firm’s field teams.
Bayu Syerli, co-founder and CEO of Elevarm, stated that access to high-quality seedlings and fertilisers has been a long-standing challenge for smallholder farmers, hindering their ability to maximise yields and achieve profitable harvests. Elevarm is addressing this by making essential high-quality farming inputs accessible, thereby boosting productivity and improving farmer livelihoods.
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Khailee Ng, Managing Partner at 500 Global, noted the growing innovation and investment in agriculture due to global food security priorities, highlighting Elevarm’s scalable approach of combining AI with traditional farming knowledge, which has the potential to strengthen food systems and promote sustainable farming globally.
Last May, Elevarm bagged US$2.6 million in a seed funding round led by Insignia Ventures Partners, with participation from 500 Global and eFishery founder and CEO Gibran Huzaifa.
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