East Ventures backs Indonesian blockchain-powered agritech startup

Indonesian foodtech startup Greens has raised an undisclosed amount of pre-seed funding in a round led by East Ventures.

Greens co-founders Erwin Gunawan (left) and Geraldi Tjoa / Photo credit: East Ventures

Founded in 2019, Greens is a blockchain-powered agritech firm that offers hyperlocal meals made with ingredients from its kitchens, which it says uses 90% less water and takes 70% less land to cultivate. The company claims its solution helps reduce food loss, depleted nutritional content, and food contamination by simplifying the food supply chain.

On the back end, the startup uses a blockchain network to deploy its solution and uses portable controlled environment agriculture tech on the blockchain.

In October this year, Greens will open its first hyperlocal outlet, which will be situated in Plaza Indonesia, Jakarta.

“The Greens platform consists of a fully automated garden unit, named Greens Pod, that is modular, portable, and plug-and-play,” said Geraldi Tjoa, co-founder and chief product officer at Greens.

Tjoa co-founded Greens alongside Erwin Gunawan, who’s also the CEO of Indonesian blockchain firm Merkle House. Meanwhile, Andi Sie, former CEO of US edtech startup CodeMonster, serves as Greens’ CEO.

The company plans to use the new funding to build its ecosystem for food decentralization, and it aims to roll out its initiatives in two phases. The first focuses on creating a hyperlocal food ecosystem through a network of connected outlets on its platform. The second phase involves allowing anyone to use its platform to grow food in the metaverse.

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