Indonesian Agritech Startup DayaTani Raises Seed Round of Funding of US$ 2.3 Million
IN an effort to support the transformation of agricultural technology in Indonesia, DayaTani, an agritech startup that focuses on agriculture, announced the success of its funding of IDR 35.7 billion (US$2.3 million) in its initial round ( seed round financing) .
This round involved participation from leading venture capitalists, namely KBI Investment and MDI Ventures, supported by Ascent Venture Group, which led this round, along with Northstar Ventures, BRI Ventures, and Gentree Fund. This seed round overall signals a return to optimism for the agritech industry in Indonesia and strengthens investor confidence in DayaTani's ability to transform Indonesian agriculture with technology while creating significant social impact.
"DayaTani was founded with a vision to increase the results of Indonesian farmers through technology and create a significant social impact," said Deryl Lu, Co-founder of DayaTani in a statement, Tuesday (16/1/2024). "This investment shows confidence in our business model and technology. We are committed to improving Indonesian farmers through innovative technology and partnerships," explained Deryl. Indonesia's agricultural sector, which contributes around 13% to GDP and absorbs almost 29% of the workforce, is facing significant changes, especially with the introduction of digital technology. Food security remains an important goal for Indonesia, and although there has been progress in staple food production since the 2012 Food Law, challenges remain, especially in terms of affordability and nutritional quality of food.
Read more:
https://www.dealstreetasia.com/stories/dayatani-raises-funds-378941
