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The Indonesian company EdenFarm, which focuses on providing food services, has raised $13.5 million in its most recent Pre-Series B bridge round, which was led by Telkomsel’s venture arm TMI, AppWorks, and AC Ventures. Decart Ventures, Fubon Capital, Trihill Capital, OCBC NISP Ventura, Nakhla, and Capria Ventures also provided support.
EdenFarm wants to create a sustainable and profitable food supply chain ecosystem in Indonesia for farmers and other stakeholders. Since its founding in 2017, EdenFarm has raised US$34.5mn up to the fourth important fundraising round. The money raised will increase EdenFarm’s penetration among important farming partners in Indonesia, enhancing customer satisfaction with tech-based solutions for the nation’s most urgent issues with efficiency and food security.
Founder and CEO EdenFarm’s, David Setyadi Gunawan says, “EdenFarm is thrilled to team up with Telkomsel to add precision farming technologies and insights to our local farmers. Our range of products caters to all aspects of the agriculture industry, from farms to distribution, to help farmers create sustainable and profitable businesses. The recent funding will allow us to grow our presence in Indonesia and solidify our position as a leading player in the agriculture and food service sectors. We believe that this partnership with Telkomsel will significantly benefit our platform.”
“EdenFarm has seen almost 60X growth in the last 40 months and has laid the foundation to remain profitable on its path, leading amongst other players who are suffering big losses. It signifies the victorious status of EdenFarm as a market leader in agri-tech. We aim to widen the profit in the next 12 months, along with 3.5-4X growth on a YoY basis. From there, we will pursue new markets”, added David.
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. The startup is revolutionizing the country’s B2B food supply chain by addressing some of the most pressing challenges both producers and sellers face. We at AC Ventures are confident in EdenFarm’s business and are excited to participate in its latest funding round. We are proud to serve as a catalyst to drive forward EdenFarm’s mission of building a more efficient and sustainable food ecosystem in Indonesia. The impact EdenFarm is making is truly transformative, and we can’t wait to see more positive changes this team brings about in the industry.”
With a goal of streamlining Indonesia’s B2B food supply chain and empowering the food ecosystem to improve the welfare of farmers, food and culinary business actors through accurate demand consistency, various training, and technological support, EdenFarm, a pioneering food-service startup with a focus on B2B customers, launched the company in 2017. In the B2B market, EdenFarm provides services to more than 50,000 clients, ranging from startup partners to the secondary market, culinary SMEs, and HORECA.