Poultry startup Pitik lays off staff as it reviews business operations

Pitik co-founders Arief Witjaksono (left) and Rymax Joehana / Photo credit: Pitik

Pitik, an Indonesia-based poultry startup, has recently laid off some of its employees as the company reevaluates its business operations, CEO Arief Witjaksono confirmed.

“We remain focused on consistently assessing Pitik’s operations to ensure alignment with the business objectives and its adaptability to market changes,” Witjaksono told Tech in Asia Indonesia in a statement. It’s unclear how many employees were affected.

He added that the company has committed to providing proper compensation.

Founded in 2019 by Witjaksono and Rymax Joehana, Pitik provides partner farmers with a full-stack livestock management technology service, including IoT-based systems and tools. The firm also distributes chicken products directly to consumers.

According to Tech in Asia data, Pitik last secured a US$14 million series A funding round led by Alpha JWC Ventures in May 2022. MDI Ventures, Wavemaker Partners, and Arise also participated.

In October 2022, Pitik recorded US$12.2 million in revenue, a 20x growth from the US$600,000 it made in October 2021, Tech in Asia previously reported.

Chicken consumption in Indonesia is expected to grow from 8.2 kilograms per capita in 2022 to 9.3 kilograms per capita by 2029, according to Statista.

However, Pitik has previously said that demand fluctuates as many Indonesians still consider chicken a luxury food.

To diversify its revenue source, the company has developed chicken-processing capabilities and provided financing to chicken farmers. Pitik’s local competitors include BroilerX and Chickin.

See also: Indonesian chicken startup’s 20x revenue jump sees it take off