Aditya Hadi Pratama · · 2 min readIndonesian agritech firm reaps $200k from Triputra Group, others
Agridesa, an Indonesia-based agritech firm, has raised US$200,000 in pre-seed money from Multifield and Triputra Agro Persada, a subsidiary of local conglomerate Triputra Group.
Agridesa team / Photo credit: Agridesa
Founded earlier this year, Agridesa has developed a closed-loop agriculture model that connects land owners and farmers. It uses agricultural loans from banks to kickstart farming projects and divides the profit among all stakeholders when the crops are harvested.
The company currently has an agreement to cultivate five hectares of land in West Java to grow chilies and has a plan to expand this into a 15,000-hectare area.
Agridesa also has a trading business that connects hotels, restaurants, and catering businesses to grocery producers. The firm posts 2 billion rupiah (around US$134,000) in revenue per month, and most of this comes from its trading arm. The firm aims to increase its revenue to around US$670,000 per month by August next year.
The company has partnered with Triputra Group-backed agritech startup Kedai Sayur to purchase harvests from the platform. It also has tie-ups with Bank Rakyat Indonesia, which offers agricultural loans, and seed provider East West Seed.
See also: The key players in Indonesia’s promising agritech space
Agridesa is headed by Allen Nicolas, who previously worked at software company Ramco Systems, along with former TaniHub employee Luqman Arif and serial entrepreneur Kristian Harahap.
The firm was built by Katalys Partners and Capital Commerce. Katalys Partners itself is a venture builder founded by former MDI Ventures investment executive Rama Manusama, along with former Rothschild banker Peter Witkamp, and former Principia’s senior analyst Mauritius Edbert, while Capital Commerce is helmed by former Triputra Agro Persada executive Muhammad Iqbal.
It plans to use the fresh funding for product development and to expand its two main businesses.
Currency converted from Indonesian rupiah to US dollar: US$1 = 14,928 rupiah.
Editing by Miguel Cordon and Jaclyn Tiu
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