Indonesian agritech startup TaniHub secures $65.5m in MDI-led round

Indonesian agritech startup TaniHub said it has raised US$65.5 million in its latest funding round to add new facilities and boost exports. The investment pushes its post-money valuation to over US$218 million, according to VentureCap Insights data.

More funding details

• Lead investor: MDI Ventures, the corporate VC arm of Telkom Indonesia
• Other investors: AddVentures, BRI Ventures, Flourish Ventures, Intudo Ventures, Openspace Ventures, Tenaya Capital, UOB Venture Management, Telkomsel Mitra Inovasi, and Vertex Ventures
• Stage: Series B

More company updates

• TaniHub said its gross revenue grew by over 600% year on year in 2020 after adjusting its business to meet increased consumer demand for fresh produce.
• The startup also plans to use the funds to drive business expansion as it aims to ramp up harvest collection and enhance Indonesian farmers’ access to domestic and international markets.
• To achieve this, TaniHub said it’s working with Indonesian government agencies including the Ministry of Trade, Ministry of Agriculture, and the Ministry of Cooperatives and SMEs.
• TaniHub recently raised funding in April 2020, securing US$17 million in a series A+ round co-led by Openspace Ventures and Intudo Ventures.

For more coverage of the company, head here. You can also click on the link below to view key details about the company as well as its funding history.