With 13.5% of GDP, the agricultural industry contributes significantly to Indonesia’s economy. There is, however, a highly fragmented upstream agricultural market, with a disorganised value chain for agricultural inputs.
Eratani, an Indonesian data-driven end-to-end farm management startup has closed a $3.8M seed round. TNB Aura, a Singapore-based venture capital firm that invests in Southeast Asian startups, led the round with participation from AgFunder, Trihill Capital, and B.I.G. Ventures.
Founded by ex-Gojek and Oyo execs
Founded in 2021 by Andrew Soeherman (former Gojek executive), Kevin Juan Tanggo Laksono (Chief Operating Officer of Eratani and ex-Oyo executive), and Angles Gani (Chief Strategy Officer of Eratani), Eratani is now used by over 10,000 Java farmers to manage a total of 8,000 hectares producing 52,000 tonnes of rice.
There are more than 50,000 farmers who are looking for more work. Eratani expects to empower more than 50,000 foster farmers with this funding by the end of 2024.
The funding will assist Eratani in growing its business, bolstering teamwork, streamlining farm management initiatives, and expanding into new regions of Indonesia.
Agritech to disrupt
Eratani informed in the company press release that in addition to funding, Startup Studio Indonesia, which has the support of the Indonesian Ministries of Communication and Informatics, Agriculture, and State Logistics Agency, has provided government assistance to further develop Indonesia’s agricultural ecosystem (BULOG).
“It has been amazing to see the impact Eratani is already making in the lives of our very own farmers. With the traction, funding, and support we’ve received, the Eratani team is eager to continue our journey in building the ecosystem our country’s farmers deserve,” stated Andrew Soeherman, Eratani CEO.
Vicknesh R Pillay, Founding Partner of TNB Aura, added that “due to the highly fragmented nature of the Agri value chain in the region, TNB Aura believes Eratani’s farmer-centric approach led by a mission-driven team is key to accelerate the transformation of sustainable food security in Indonesia.”
Eratani’s mobile platform offers downstream solutions such as agricultural produce distribution, as well as upstream solutions such as data-driven farm and supply chain management, as well as data-driven agronomic insight for farmers.
