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Indonesian seaweed firm secures $1.25m seed funding
Banyu, an integrated seaweed company based in Indonesia, has raised US$1.25 million in seed funding, led by venture capital firm Intudo.
Founded in December 2023, Banyu addresses issues such as low-quality inputs, labor-intensive farming methods, and variable market pricing.
The company sells seaweed internationally for diverse applications, including food production, biofertilizers, and bioplastics.
Banyu plans to use the funding to create a seedling cultivation laboratory and expand its operations, particularly in Sulawesi, Indonesia’s primary seaweed production region.
The company’s leadership team comprises CEO Dodon Yamin, Chief Sustainability Officer Anis Nur Aini, and President Commissioner Anthony Kwik.
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