East Ventures leads $26m round of Indonesian agritech firm

Gokomodo, an Indonesia-based agriculture supply chain platform, said it earned US$26 million in a series A round led by East Ventures.

SMDV, Eight Capital, and Waresix also participated in the fundraise.

The Gokomodo team / Photo credit: Gokomodo

Gokomodo is a B2B startup that offers digital procurement, digital commerce, and distribution services. Its clients also have the option of buying competitive products through the company’s ecommerce storefront.

The platform aims to make product sourcing more transparent, increase accessibility, and boost efficiency for agribusiness companies and smallholder farmers. Through its association with Indonesia’s Waresix, it also offers logistics services that allow these farmers to pass on savings.

Gokomodo was founded in 2019 by Samuel Tirtasaptura, who previously worked at Sampoerna Agro, and Okadoc ex-engineering head William Pramana.

“Our aim is to leverage technology to bridge the gap between large corporates and smallholder farmers, supporting the latter by leveraging our buying power and infrastructure on their behalf,” said Pramana.

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Since its launch, the firm said it has onboarded 3,000 companies into its ecosystem, including Sinar Mas, First Resources, and Sampoerna Agro.

Moving forward, Gokomodo is looking to expand its product selection, increasing its customer base, develop its digital platform, and build physical distribution points in remote areas to drive penetration and reach underserved areas in Indonesia.

Other investors in the round include:

• K3 Ventures
• Triputra Group
• Indogen Capital
• Sahabat Group
• Sampoerna Financial