Indonesian Agritech firm Eratani Secures $2 Million in Seed Funding

An agritech company with roots in Indonesia named Eratani announced a second $2 million seed extension funding round on Monday, bringing the total seed funding to $5.8 million. According to a statement from Eratani, SBI Ven Capital, Genting Ventures, Orvel Ventures, and Ascend Angels are among the investors in the round through their joint fund with Kyobo Securities and NTUitive.

Eratani received $3,8 million in funding from TNB Aura, AgFunder, B.I.G Ventures, and Trihill Capital by the end of 2022.

This overall seed round, according to Eratani, reinforces investor confidence in Eratani's ability to unlock the sector's potential while having a significant social impact. It also signals a renewed sense of optimism for the Indonesian agritech industry.

 
According to Andrew Soeherman, CEO of Eratani, "Eratani was founded on the belief that technology can transform the agriculture industry and create significant social impact."

This investment confirms the viability of our business strategy and reaffirms our belief in the potential of Indonesia's agritech,

He continued, "We are dedicated to continuing our work in enhancing productivity, fostering business sustainability, and empowering farmers.

An agritech startup named Eratani was established in 2021 with the goal of revolutionising Indonesia's agricultural industry.

Eratani seeks to boost productivity, promote sustainability, and encourage expansion in Indonesia's agricultural sector through the integration of technology into farming operations.

When it comes to incorporating technology into its rice farming operations, Eratani has made significant progress.

Its comprehensive solution, involving farmer funding, supply chain management, crop distribution, and agricultural assistance, now supports a network of 20,000 rice farmers across five provinces (West Java, Central Java, East Java, Banten & South Sulawesi).

According to the statement, Indonesia’s agricultural sector, which contributes about 13 percent to its gross domestic product (GDP) and employs nearly 29 percent of its workforce, faces significant inefficiencies.