TaniHub Secures 285 Billion Rupiah Worth of Series A+ Funding
It's to focused on expansion and automation system
Prayogo Ryza - 2 April 2020
TaniHub Group announced to secure series A+ funding worth of US$17 million or around 285 billion Rupiah. This is the follow on round of the series A last May 2019.
The latest round was led by Openspace Ventures and Intudo Ventures. Also involved in this round, UOB Venture Management, Vertec Ventures, BRI Ventures, Tenaya Capital and Golden Gate Ventures. In total, TaniHub has obtained Rp462 billion funding since 2016.
The additional funding will be allocated to tighten business position by expanding services, both for farmers and customers. They will also focus to improve operational, such as the implementation of automation in processing and packaging centers.
TaniHub Group’s Co-Founder & President, Pamitra Wineka said, regeneration is very important for Indonesian agriculture, considering they are one of the country’s biggest economic contributors. Farmers need to increase productivity and income to make sure the easy generation that agriculture is a sector that has bright prospects.
“Our TaniHub Group Ecosystem is designed to help farmers achieve their dreams and consumers can enjoy agricultural products at reasonable prices. This will enable ‘agriculture for everyone’, which is our main goal,” he added.
TaniHub claimed that they had managed to get a threefold increase compared to the previous year. In total there are more than 30,000 small farmers who join their ecosystem. Within their platform there are also 5,000 business customers consisting of SMEs, hotels, restaurants, catering and 115,000 retail customers.
Based on Startup Report data from DSResearch, the TaniHub application is the most downloaded for the agrotech category with a total download of more than 100,000 in 2019. Defeating Winged Beans and iGrow. Meanwhile, in terms of business, the delivery of agricultural products from TaniHub is in the same segment as Sayurbox, Kecipir, etanee, Kedai Sayur, and others.
Aim to be of service throughout Indonesia
Currently, TaniHub has five branch offices in Bogor, Bandung, Yogyakarta, Surabaya, and Denpasar. The latest news, TanhiHub is currently finalizing PPC (Processing and Packing Center) in Malang with 3,000 sqm area.
For automation solutions, they will install machines that can process and pack automatically. The goal is to reduce the touch of human hands so that the quality and safety of products is guaranteed. After Malang, it is planned that there will also be PPC and DC in other cities.
“TaniHub focuses on building infrastructure and supply chains which are currently the biggest challenges in the Indonesian agriculture sector. We are committed to strengthening our partnerships with partners in the B2B area, including SMEs. We expect better growth for this year and we hope to reach all cities throughout the country by 2020,” TaniHub Group’s CEO & Co-Founder, Ivan Arie Sustiawan said.
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In addition to providing agricultural products, TaniHub Group also has a P2P lending service, TaniFund. This service has succeeded in disbursing 100 billion Rupiah in loans since start operating in 2017 ago.
Original article is in Indonesian, translated by Kristin Siagian