Indonesian agritech Gokomodo harvests $26m in Series A funding

Gokomodo, an Indonesian agriculture supply chain platform, announced raising $26 million in its Series A funding round led by East Ventures.

Other investors participating in the oversubscribed round are SMDV, Eight Capital, K3 Ventures, Triputra, Waresix, Indogen Capital, Sahabat Group, and Sampoerna Financial. This funding amount marked as one of the largest series A ticket sizes in Indonesia ever.

Gokomodo was founded in 2019 by Samuel Tirtasaptura (Co-Founder and CEO), a former agribusiness executive and William Pramana, (Co-Founder and CTO), a serial tech entrepreneur. It has built the largest enterprise network and land coverage in its sector.

To date, Gokomodo has more than 3,000 companies in its ecosystem including major agribusinesses corporates in Indonesia such as Sinar Mas, First Resources, and Sampoerna Agro.

“Gokomodo’s dual approach, combining a strong digital platform combined with a strategic physical footprint, ensures that we can drive penetration even in areas where the digital infrastructure is still lacking, in line with our goal of advancing agribusiness companies and smallholder farmers all over Indonesia and enabling equal access for all through technology,” said Samuel Tirtasaputra, Co-Founder and CEO of Gokomodo.

Going forward, Gokomodo’s growth priorities include expanding the product selection on its platform, growing its customer base, enhancing its digital platform and aggressively building out physical distribution points in remote areas to create a strong online-offline presence able to effectively drive penetration and reach underserved areas in Indonesia.

These physical stores will enable Gokomodo to better serve customers off-Java, where the majority of agribusiness companies and smallholder farmers are located.

“We welcome Gokomodo into East Ventures’ family. Gokomodo stands out as an innovative solution to pressing supply chain problems in the agribusiness sector. With the huge potential of agribusiness in Indonesia, we believe that Gokomodo has great potential to significantly boost productivity and output towards supporting the growth of Indonesia’s economy. We are looking forward to further growth from Gokomodo,” said Willson Cuaca, Co-Founder and Managing Partner at East Ventures.