The key people of Koltiva
Koltiva, an Indonesia-based tech startup focused on agriculture supply chain, has raised an undisclosed investment from impact investor Silverstrand Capital, with participation from existing investor The Meloy Fund.
Planet Rise, Development Finance Asia and Blue7 also participated in the round.
The funding will allow Koltiva to develop its technology that creates traceability data and delivers agronomy advice to help smallholder farmers improve their agricultural practices and income. It generates traceability data through a marriage of technology with in-person engagement through its agronomist network. Koltiva’s agronomists provide capacity building and technical assistance to smallholder farmers.
Koltiva’s new technology modules will be commercialised using the funds.
The first module, KoltiPay, is a fintech platform that provides cashless payment transactions for small-scale farmers and offers them crop insurance and loans.
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KoltiTrade, the second module, will enable farmers to purchase affordable agricultural inputs and provide direct access to premium markets for their crops, helping them improve their incomes.
Both will integrate into Koltiva’s end-to-end technology ecosystem, which includes its traceability and farm management software (KoltiTrace) and the training services arm (KoltiSkills).
“Sustainability and ethically-produced goods have become critical decision-making factors for consumers worldwide,” said Manfred Borer, CEO of Koltiva. “Agribusinesses and multinational companies that want to produce goods to meet that demand to understand where ingredients come from and the transparency and trustworthiness of the data. That is what we do. This new round of funding will help us accelerate our five-year goal of supporting five million farmers while ensuring goods are responsibly produced and free of deforestation, conversion, exploitation, human rights abuses, and child labour.”
Koltiva began its operations in Indonesia in cocoa production but has since expanded to 30 commodities, including coffee, palm oil, rubber, and speciality crops. The company recently moved into climate solutions and the ‘blue economy’, including seaweed and shrimp farming.
Koltiva now operates in 27 countries with a US$20 billion and growing addressable market opportunity.
“Koltiva supports more than 700,000 smallholder farmers globally, helping them increase average yields by 70 per cent and average prices by 48 per cent. We believe that the commercial launch of the new modules will significantly improve the company’s ability to increase farmers’ income while accelerating and diversifying Koltiva’s revenue growth,” said Peter Kennedy, Chief Investment Officer at The Meloy Fund.
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