The AgriAku core team
Indonesia-based agritech startup AgriAku today announced a US$6 million Pre-Series A funding round led by Go-Ventures, with participation from MDI Arise, MDI Centauri, Mercy Corps Social Venture Fund and several business angels.
In a press statement, the company said that they aim to use the funding to grow its team, particularly in its operations, supply chain, product, and technology division; strengthening the market penetration of its B2B agri-inputs marketplace nationwide; and continue innovating on its product ecosystem.
This funding announcement followed a seed funding round that AgriAku announced in December 2021.
Launched in May 2021, AgriAku’s B2B input marketplace platform facilitates agribusiness activities for suppliers, retailers and farmers. The platform helped source farming supplies from suppliers or manufacturers to be sold to agri-input retailers. These retailers are usually in the form of toko tani or last mile, local village shop that sells farming supplies to farmers in Indonesia.
The company said that in just nine months of operations, it has seen “exponential growth, becoming Indonesia’s fastest-growing B2B marketplace for the agricultural industry.”
AgriAku said that it has seen an average month-on-month growth of 200 per cent in gross merchandise value over the past four months. The number of active users on the platform has also grown significantly with over 10,000 registered farmer stores on the platform.
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“We have been fortunate to see strong month-on-month growth across all key metrics. This growth has been driven by onboarding loyal suppliers, retailers and farmers, who can all see the many benefits of improved pricing transparency, access to reliable suppliers and technology tools to boost productivity. We shall continue to improve our platform and launch more innovative tech solutions to support the agricultural value chain. This will allow us to become an integrated, full-stack digital agriculture platform, addressing inefficiencies across Indonesia’s agricultural value chain. By becoming a trusted partner to sellers, buyers and farmers, we aim to support their growth, reduce their costs and improve their profits, providing a boost to Indonesia’s agricultural sector,” said Danny Handoko, CEO of AgriAku.
Prior to founding AgriAku, President Irvan Kolonas was the founder of Vasham, an Indonesian social enterprise in the agricultural sector.
Co-Founder and CEO Danny Handoko was previously the CEO of Airy, an Indonesian hospitality startup, with prior experience in Business Development and Business Intelligence at Traveloka and Ruma (Mapan).
The team is also supported by COO Rezky Haryanto Agustia, previously the Assistant Vice President for Supply Chain & Operations at Bukalapak and the Director of Business Operations at Transmart.
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Image Credit: AgriAku
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