Banyu, an integrated seaweed company in Indonesia, has closed a US$1.25 million seed funding round led by Intudo Ventures.
The funding will enable the company to establish a seedling cultivation laboratory and nursery and expand its farming and exporting operations.
Indonesia is the world’s largest producer of tropical seaweed, yet several issues plague the industry, including low-quality inputs, labour-intensive practices, a lack of price transparency, and poor access to financing. Banyu addresses these challenges by providing comprehensive support to farmers, traders, and processors.
Founded in December 2023, the company supports local farmers through high-quality seedlings, advanced farming techniques, and access to stable incomes. Its approach includes proprietary seedling production methods, which have been shown to increase yields by up to 20 per cent compared to traditional methods.
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Led by Dodon Yamin (CEO), Anis Nur Aini (Chief Sustainability Officer), and Anthony Kwik (President Commissioner), Banyu works closely with international FMCG and ingredient companies, offering seaweed for food production and emerging applications like biofertilisers and bioplastics.
The company tailors its offering to meet specific buyer requirements, including seaweed species, quantity, and environmental and social standards. This allows buyers to start with a small-scale demo plot before scaling up production. Banyu provides ongoing training, knowledge transfer and technology to help farmers cultivate high-quality seaweed.
Banyu intends to become Indonesia’s largest high-volume seedling producer, initially targeting Sulawesi before expanding to other major seaweed-producing regions.
Intudo, an investment firm with operations in Indonesia and Silicon Valley, sees Banyu as helping Indonesia move up the seaweed value chain. By improving productivity and sustainability, Banyu can expand its addressable market worldwide, positively impacting Indonesian coastal communities.
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