(L-R) EdenFarm COO Febrianto Gamal, CEO David Setyadi Gunawan, and CFO Ramavito Mountaino
Indonesia’s leading agritech platform EdenFarm has raised US$13.5 million in a pre-series B round of financing led by Telkomsel’s investment arm TMI Ventures.
AppWorks, AC Ventures, and Capria Ventures, among others, also joined.
EdenFarm will use the proceeds to expand across the country, imrove the customer experience, and scale technology.
With this round, the total capital raised by the agritech firm has reached US$34.5 million.
Also Read: Eden Farm closes US$19M Series A to supply food ingredients to HORECA, wet markets, e-commerce firms
Founded in 2017 by David Setyadi Gunawan, Ramavito Mountaino, and Febrianto Gamal, EdenFarm is a B2B food service platform providing fresh produce from farmers to restaurants, caterers, street vendors, and startup partners in Indonesia.
It collects, selects and redistributes fresh produce purchased from farmers, reducing the inefficiencies of other intermediaries to offer lower prices, better margins, consistent quality and efficient last-mile delivery to customers.
With three fulfilment centres and ten collection facilities across Java, the firm claims to have over 5,500 farmer partners and 50,000 B2B customers. According to Founder and CEO David Setyadi Gunawan, EdenFarm has seen almost 60X growth in the last 40 months. It aims to widen the profit in the next 12 months, along with 3.5-4X growth on a YoY basis.
In November 2021, EdenFarm announced closing a US$19 million Series A round of financing co-led by AppWorks and AC Ventures. Trihill Capital, OCBC Ventures, Investible, Corin Capital, and existing investor Global Founders Capital also joined the round.
Also Read: A comprehensive guide to Indonesia’s agritech ecosystem
According to the Central Bureau of Statistics, Indonesia is home to 33.4 million farmers, with the agriculture sector contributing 14 per cent of Indonesia’s GDP.
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