AgriAku

About AgriAku

AgriAku, officially registered as PT Agriaku Digital Indonesia, commenced its journey in May 2021 as a business-to-business (B2B) marketplace tailored for the agricultural sector in Indonesia. The company was founded by Irvan Kolonas, who currently serves as the President, and Danny Handoko, the Chief Executive Officer. Kolonas brings a wealth of experience from his family's agribusiness background, which spans over three decades, providing him with deep insights into the challenges faced by Indonesian farmers. Handoko complements this with his extensive background in the technology and startup ecosystem, having previously co-founded the fintech company Modal Rakyat. The platform aims to streamline the agricultural supply chain by connecting manufacturers and distributors of farming supplies directly with retailers, known as 'toko tanis'. This model addresses the fragmented and inefficient procurement processes that have traditionally plagued the industry, leading to limited product availability and price transparency for farmers. AgriAku provides a digital solution for 'toko tanis' to procure a wide range of agricultural inputs, including seeds, fertilizers, and crop protection products, from various suppliers through a single application. The platform's business model is centered on facilitating these transactions, likely earning revenue through service fees or margins on the products sold. By aggregating demand from numerous small retailers, AgriAku can offer more competitive pricing and a broader selection of goods. Beyond its core marketplace function, AgriAku has expanded its offerings to include financial services. Recognizing the liquidity challenges faced by 'toko tanis' and farmers, the company introduced AgriAku PayLater, a financing solution that provides working capital to its retail partners. This strategic move not only enhances the value proposition for its users but also creates an additional revenue stream. The company has demonstrated significant traction, reporting a 60x growth in its gross merchandise value (GMV) within the first six months of 2022 and expanding its network to cover over 30,000 farmers through its retail partners. This growth trajectory has attracted substantial investor confidence, evidenced by a $35 million Series A funding round led by Alpha JWC Ventures, with participation from notable investors like MDI Ventures and Go-Ventures. Keywords: agritech, B2B marketplace, agricultural supply chain, farm inputs, fintech, crop protection, inventory management, e-procurement, farmer services, working capital