Don’t let this fool you, Indonesia is made up of 17k+ islands! (Source: Getty Images / Encyclopedia Britannica)
It turns out Stardew Valley isn’t the only farming app people love.
TaniHub Group, an Indonesian startup that connects farmers to customers, just announced $65.5m in Series B funding, per TechCrunch.
Founded in 2016, the agtech startup currently hosts 45k+ farmers and 350k buyers, including restaurants and stores.
… and consists of 3 parts:
Increased demand for online groceries during the pandemic led to a 6x YoY sales increase in 2020.
CEO Eka Pamitra says it will use the new funding to beef up its supply chain and improve its supply-demand forecast model to help farmers plan ahead.
It will also expand across Indonesia — the world’s 4th-most-populated country (275m+ people) — where a fragmented market and too many middlemen hurts farmers and consumers alike.
At this rate, investors may be harvesting some gains soon (sorry).