Alpha JWC Ventures Led $35 Million Series A Funding for Indonesian B2B Agriculture Marketplace AgriAku

- 15 July 2022 18:48 WIB
From left to right: Danny Handoko (Co-Founder and CEO AgriAku), Abraham Soedjito (Chief Strategy Officer AgriAku), Irvan Kolonas (Co-Founder and President AgriAku), Rezky Haryanto Agustia (Chief Operating Officer AgriAku), Valmik Mirani (Chief Commercial Officer AgriAku) (Photo courtesy of AgriAku)
From left to right: Danny Handoko (Co-Founder and CEO AgriAku), Abraham Soedjito (Chief Strategy Officer AgriAku), Irvan Kolonas (Co-Founder and President AgriAku), Rezky Haryanto Agustia (Chief Operating Officer AgriAku), Valmik Mirani (Chief Commercial Officer AgriAku) (Photo courtesy of AgriAku)

JAKARTADAILY.ID – Alpha JWC Ventures, a Southeast Asian venture capital firm, led Series A funding worth Rp 520 billion ($34.5 million) for Indonesian agriculture-technology startup AgriAku.

Alpha JWC Ventures said in a statement on Monday, July 11, 2022, that the "oversubscribed" Series A funding to AgriAku is plotted to scale its ecosystem and empower millions of local farmers.

It said returning investors MDI Ventures (ARISE, Centauri, MDI Growth) and Go-Ventures also participated.

Also read: Australia Promises to Send 1 Million Vaccines to Help Indonesia Deal with FMD

MDI Ventures is a multi-stage venture capital firm backed by Telkom Indonesia.

AgriAku, which started its business with a business-to-business (B2B) input marketplace and now has facilitated a wide range of agribusiness activities for suppliers, retailers, and farmers, has also successfully secured funding from two new marquee institutional investors, namely BRI Ventures and Mandiri Capital Indonesia.

This made AgriAku the only agritech company funded by three large state-owned enterprises’ venture capital funds.

In addition to those investors, AgriAku also onboarded new strategic investors such as Gentree Fund, K3 Ventures, and Thai Wah Public Company to help the company scale internationally in the future.

"They are joined by other key venture firms in this round, including Alto Partners, InnoVen Capital, and Mercy Corps Social Venture Funds," Alpha JWC Ventures said in the statement.

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Editor: Suksmajati Kumara

Source: Alpha JWC Ventures

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