SINGAPORE - Media OutReach - 30 May 2019 - Agritech startup TaniGroup, which
operates 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 Openspace
Ventures with participation from Intudo Ventures, Golden Gate Ventures, and The
The Series A investment will accelerate
TaniGroup's expansion of their services across Indonesia and new product
development. The new round complements previous Pre-Series A investment from
Alpha JWC Ventures and several angel investors in early 2018.
TaniHub has partnered with more than
25,000 local farmers and operates five regional offices and distribution hubs
in Indonesia. TaniHub is a business-to-business platform that provides fresh
produce sourced directly from farmers to customers. For the business-to-consumer
clients, TaniHub provides a farm-to-table mobile application which allows consumers
to have wider access to the farmers. TaniHub connects farmers with more than
400 small and medium enterprises (SMEs) and over 10,000 individual customers.
TaniFund provides lending for
cultivation projects by farmers who may lack access to formal financial
institutions. By linking with TaniHub, more clarity is provided to both
borrower and lender on credit standing and terms. TaniFund is registered with
the Financial Services Authority (OJK) and a member of Indonesian Fintech
Lenders Association (AFPI).
Pamitra Wineka, President and Co-Founder
of TaniGroup says: "The agriculture sector is the second largest contributor to
Indonesia's gross domestic product. By accessing multiple channels of demand,
farmers can sell fresh produce to TaniHub, while TaniFund can help by funding the
needs for cultivation. We will be rolling out more platforms which will further
improve agricultural decision making," he says.
Indonesia's agriculture problems can be
solved through technological innovation which is aligned with the Government's
goal to increase the standard of living of the farmers. TaniGroup will collaborate
with the government and other stakeholders to build a deeper platform -- which
is key in solving issues in the Indonesia's agriculture sector.
Ivan Arie Sustiawan, CEO and Co-Founder
of TaniGroup, says: "We want to invite agriculture startups to collaborate
because this landscape is still large and traditional. There are problems to
address and we believe we can build a strong supply chain to deliver great
value to Indonesian consumers."
Partner at Openspace Ventures says: "TaniHub is building innovation into a
massive sector, barely touched by digitization, a true Openspace. We look
forward to working with the TaniHub team in creating a deeper technology
platform and broader reach."
TaniHub is an Indonesian B2B and B2C
e-commerce platform for agriculture products which connects farmers to
businesses and end-users. TaniHub was established in mid-2016 by a group of
people passionate in helping Indonesian farmers who face difficulties in
selling their harvests. In 2017, crowdfunding platform, TaniFund, was launched
as a solution to the problem of access to financial services among local