SINGAPORE - Media OutReach - 30 May 2019 - Agritech startup TaniGroup, whichoperates agriculture e-commerce TaniHub and peer-to-peer lending provider TaniFund,today announced it raised a US$10 million Series A round of financing led by OpenspaceVentures with participation from Intudo Ventures, Golden Gate Ventures, and TheDFS Lab.
The Series A investment will accelerateTaniGroup's expansion of their services across Indonesia and new productdevelopment. The new round complements previous Pre-Series A investment fromAlpha JWC Ventures and several angel investors in early 2018.
TaniHub has partnered with more than25,000 local farmers and operates five regional offices and distribution hubsin Indonesia. TaniHub is a business-to-business platform that provides freshproduce sourced directly from farmers to customers. For the business-to-consumerclients, TaniHub provides a farm-to-table mobile application which allows consumersto have wider access to the farmers. TaniHub connects farmers with more than400 small and medium enterprises (SMEs) and over 10,000 individual customers.
TaniFund provides lending forcultivation projects by farmers who may lack access to formal financialinstitutions. By linking with TaniHub, more clarity is provided to bothborrower and lender on credit standing and terms. TaniFund is registered withthe Financial Services Authority (OJK) and a member of Indonesian FintechLenders Association (AFPI).
Pamitra Wineka, President and Co-Founderof TaniGroup says: "The agriculture sector is the second largest contributor toIndonesia's gross domestic product. By accessing multiple channels of demand,farmers can sell fresh produce to TaniHub, while TaniFund can help by funding theneeds for cultivation. We will be rolling out more platforms which will furtherimprove agricultural decision making," he says.
Indonesia's agriculture problems can besolved through technological innovation which is aligned with the Government'sgoal to increase the standard of living of the farmers. TaniGroup will collaboratewith the government and other stakeholders to build a deeper platform -- whichis key in solving issues in the Indonesia's agriculture sector.
Ivan Arie Sustiawan, CEO and Co-Founderof TaniGroup, says: "We want to invite agriculture startups to collaboratebecause this landscape is still large and traditional. There are problems toaddress and we believe we can build a strong supply chain to deliver greatvalue to Indonesian consumers."
Shane Chesson,Partner at Openspace Ventures says: "TaniHub is building innovation into amassive sector, barely touched by digitization, a true Openspace. We lookforward to working with the TaniHub team in creating a deeper technologyplatform and broader reach."