EdenFarm has secured US$13.5mil in its latest Pre-Series B bridge round led by Telkomsel venture arm – TMI, AppWorks and AC Ventures.
Funds will used to deepen penetration across Indonesia, improve customer experience
It said the startup has to date raised US$34.5million from four significant funding rounds since its establishment in 2017. “Our range of products caters to all aspects of the agriculture industry, from farms to distribution, to help farmers create sustainable and profitable businesses,” he added. “This signifies the victorious status of EdenFarm as a market leader in agri-tech and we aim to widen the profit in the next 12 months, along with 3.5-4X growth on a year-on-year basis,” he added.Meanwhile, CEO of Telkomsel Mitra Inovasi , Mia Melinda said, the company believes in the important use of"tech for good", and helping entrepreneurs and small businesses with high dedication and passion for making a positive impact for Indonesia's economy has always been our focus.
Adrian Li, founder and managing partner at AC Ventures, said, strongly aligned with our firm's ESG-focused investment philosophy, EdenFarm is operating at nearly 0% food waste and delivering a robust and meaningful impact to the livelihoods of Indonesia's farmers. He added that the firm is proud to serve as a catalyst to drive forward EdenFarm's mission of building a more efficient and sustainable food ecosystem in Indonesia.