PayFazz CEO joins Indonesian aquaculture firm’s seed round

Delos, an Indonesia-based aquaculture-tech startup, raised an undisclosed amount of seed money in a round led by Arise, a collaborative fund from MDI Ventures and Finch Capital.

Photo credit: Delos

PayFazz CEO and co-founder Hendra Kwik, Japfa executive Irvan Kolonas, Number Capital, iSeed Asia, and MDI Ventures also joined the round, according to a statement.

Delos offers a full-stack farm management system that allows shrimp farmers to digitalize their operations, which it said may lead to an increase of 50% to 150% in existing Indonesian shrimp farms’ output. Its tech forecasts farm profitability and recommends moves to ramp up productivity.

The company said that low adoption of tech, paired with poor access to financing and sub-par management, has become a bottleneck in the aquaculture space. This has throttled the output of downstream processors and kept it an average of 40% to 60% of capacity.

Delos plans to use the new funds to scale its software, develop value-chain integrations, and onboard new farm partners.

The startup was founded by Guntur Mallarangeng, Bobby Indra Gunawan, and Alexander Farthing this year. Together, they bring a mix of experience from the aquaculture, marine biology, technology, and business spaces.

Delos also partnered with Dewi Laut Aquaculture, a local aquaculture company, and Alune Aqua, a fintech firm in the space, to accelerate the rapid development of in-house technologies.