Agriculture

TaniHub Group Raises $ 66 Million for Farmer FinTech and E-Commerce Platforms

Editor’s Note: This is a developing story. Please check the latest information.

Launch of Ag Marketplace Tanihab Group Raised $ 65.5 million in a Series B round led by. MDI Ventures, Indonesian telecommunications giant VC division Telcom..

Many new and existing investors also participated in the round, including AddVentures, the corporate VC division of Thai conglomerate SCG, UOB Venture Management, BRI Ventures, Flourish Ventures, Intudo Ventures, Openspace Ventures and Tenaya Capital. Temasek Affiliated company Vertex Ventures.

“The TaniHub Group wants to close the gap between what Indonesia’s 40 million smallholders receive for their products and what consumers pay for the same food,” said co-founder and co-founder. CEO Pamitra Wineka said in a statement.

He said Jakarta-based startups used Series B funding to strengthen their presence “in every part of the country to ensure close proximity to farmers and communities” and “Indonesia’s agricultural sector. We will help you improve your competitiveness. “

This includes strengthening crop collection activities and processing capacity with the aim of increasing exports of Indonesian agricultural products.

AFN Has contacted the TaniHub group for additional details and will update this article as needed.

Founded in 2015, the TaniHub Group is hundreds of people trying to buy agricultural products for their business, including small farmers in Indonesia (which make up a significant portion of the island’s economic activity) and small retailers. We offer a variety of services to millions of other retail entrepreneurs. , Caterers, restaurants, stalls.

The Group’s e-commerce platform, TaniHub, connects farmers directly to these buyers and saves money by avoiding traditional intermediaries.

There is also a logistics service called TaniSupply that handles the transfer of produce from the farm to the warehouse to the final buyer. We operate six warehouses and processing facilities throughout Indonesia, aiming for a “shorter supply chain and better handling” of fruits and vegetables to reduce food waste and emissions.

The third pillar of business is the TaniFund, a fintech platform for farmers. The platform leverages the extensive dataset of startups to increase farmer credit and provide cultivation loans. This can be repaid when the product is sold via TaniHub.

Despite Covid-19, TaniHub Group states that total sales in 2020 increased by more than 600% year-on-year. $ 17 Million Series “A-plus” Round Just April 2020 when the pandemic hit Southeast Asia.Followed by this $ 10 Million Series A Raise Previous May.

“The TaniHub Group’s business model is a unique combination of procurement networks, demand aggregation and built-in finance, win-win for all stakeholders, including smallholders, street vendors, small business owners and consumers in the home. It’s a suggestion, “said Smita Aggarwal. Flourish Ventures’ Global Investment Advisor said in a statement.

“[It] It provides compelling solutions to the problems facing Indonesia’s fragmented agricultural sector, enables market collaboration and gives farmers access to financing. “


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https://agfundernews.com/tanihub-raises-66m-for-its-farmer-fintech-e-commerce-platform.html TaniHub Group Raises $ 66 Million for Farmer FinTech and E-Commerce Platforms

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