Indonesian farm-to-consumer app harvests $65.5m

TaniHub matches 45k+ farmers with 350k buyers across Indonesia, the world’s 4th-most-populous country.

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.

The business model is straightforward…

… and consists of 3 parts:

  • TaniHub, its ecommerce platform, where farmers and customers meet
  • TaniSupply, which fulfills orders across 6 warehouses
  • TaniFund, which provides loans to farmers that they repay via TaniHub sales

Increased demand for online groceries during the pandemic led to a 6x YoY sales increase in 2020.

What’s next for TaniHub?

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.

Farm-to-consumer is ripe right now:

  • Secai Marche, a Japanese platform that connects farmers to chefs, restaurants, and consumers, raised $1.5m.
  • Harvie.Farm lets people purchase customized community-supported agriculture (CSA) boxes online.
  • Barn2Door CEO Janelle Maiocco told The Wall Street Journal that ~50% of the farms on its platform sold out of stock in 2020 as home cooking and online shopping boomed.

At this rate, investors may be harvesting some gains soon (sorry).

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