Pitik

The company's core business involves providing a full-stack platform for smallholder chicken farmers across Indonesia. This platform integrates Internet of Things (IoT) devices and a smart farming application that uses an AI-powered algorithm to enable real-time monitoring of farm conditions. This technology helps farmers improve operational efficiency, aiming to reduce chicken mortality rates and improve feed conversion ratios, which ultimately increases their income. Pitik's business model is multifaceted, generating revenue primarily by selling farm inputs like chicken feed to its partner farmers and then purchasing the harvested chickens. The company then distributes these live chickens to wholesalers and wet markets. Beyond the core technology, Pitik's ecosystem extends to offering financing services for farmers needing capital and supplying quality farm inputs.

Pitik achieved significant milestones, including a $14 million Series A funding round in May 2022, led by Alpha JWC Ventures with participation from investors like MDI Ventures and Wavemaker Partners. By October 2022, the company reported substantial revenue growth and had installed hundreds of its IoT systems across Java. However, the company later faced challenges, including market volatility and economic pressures, which led to a workforce reduction in early 2024 as part of a business operations review.