Aditya Hadi Pratama · · 1 min readIndonesian poultry startup bags $14m from Alpha JWC, Wavemaker
Pitik, an Indonesia-based poultry tech startup, has raised US$14 million in a series A round led by Alpha JWC Ventures, with participation from MDI Ventures’ growth fund, Arise, and Wavemaker Partners.
Pitik co-founders Arief Witjaksono (left) and Rymax Joehana / Photo credit: Pitik
Founded last year, Pitik helps poultry farmers improve efficiency by providing IoT devices and services. The firm also offers financing services and gives users the option to buy the harvest from farms.
The startup currently partners with hundreds of farmers in 53 districts. And in the last six months, it has increased the size of its network of farms by more than 10x.
In a statement, the company said that it sells more than 16 million chickens annually, making it the largest poultry startup in Indonesia based on business size.
Pitik was founded by serial entrepreneurs Arief Witjaksono and Rymax Joehana. It plans to use the fresh funding for product development, hiring, and expansion purposes. It also aims to have a presence in all areas of Java by the end of this year and expand to other islands in the country by next year.
See also: These are the most active investors in Indonesia’s startups
Editing by Miguel Cordon and Jaclyn Tiu
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