AC Ventures and AppWorks also participated in the funding round for the food service-focused startup, along with Decart Ventures, Fubon Capital, Trihill Capital, OCBC NISP Ventura, Nakhla, and Capria Ventures.
Started in 2017, EdenFarm focuses on B2B customers, with a vision to simplify Indonesia’s B2B food supply chain and empower the food ecosystem to improve the welfare of farmers, food and culinary business actors through accurate demand consistency, various training, and technological support.
It now operates in 14 cities and three districts through Java and serves more than 50,000 customers in the B2B segment, ranging from the secondary market, culinary SMEs, and HORECA to startup partners.
The startup aims to build a food supply chain ecosystem in Indonesia that is profitable and sustainable for the farmers and all stakeholders. It has raised US$34.5mn upto the fourth significant funding round since its establishment in 2017.
The fresh funds raised will deepen EdenFarm’s penetration across key farming partners in Indonesia, improving customer experience with tech-based solutions for the country’s most pressing food security and efficiency problems.
“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,” said EdenFarm founder and CEO David Setyadi Gunawan.
The startup 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 agritech.
“EdenFarm’s strong B2B food supply chain network from upstream to downstream empowers local farmers to gain better income and create a positive impact in rural areas,” said TMI CEO Mia Melinda.