Indonesian poultry tech startup Pitik secures $14m in Series A funding

Pitik, Indonesia’s largest poultry tech startup, announced raising $14 million in a Series A funding anchored by Alpha JWC Ventures and participated by existing investors MDI Ventures and Wavemaker Partners.

Launched by Arief Witjaksono and Rymax Joehana in mid-202, Pitik seeks to expand its ecosystem to empower more chicken farmers in Indonesia using the latest funds.

The company is building the largest community of poultry farmers in Indonesia and equipping them with end-to-end solutions on technology, financing, and supply-chain.

Through its services, Pitik seeks to solves inefficiencies in farm production and streamlines the supply chain to create a fair ecosystem for farmers to grow and improve their welfare.

Such support is much needed by local farms that have always been dealing with low efficiency, operational difficulties, and late or even non-payment during harvest time.

Pitik provides farmers with full stack farm management technology to improve their productivity. Upon joining Pitik ecosystem, all farms are installed with IoT (internet-of-things) systems and farmers are given access to Pitik smart farming application to facilitate real-time farm monitoring and instant issue identification through its farm algorithm.

Beyond technology, Pitik leverages on its ecosystem to supply quality farm input to farmers, provide financing services, and offtake the harvest with best prices and guaranteed terms of payment. With these services, Pitik has become the most trusted partner for farmers throughout their business cycles.

“We have proven that our technology is effective in helping farmers improve their yield and our ecosystem is capable of providing value added services for farmers. Our big dream is to empower all poultry farmers in Indonesia through our integrated services and make sure we can improve their livelihood. This funding round will enable us to reach out to more farmers, but also to drive further innovation and unlock additional efficiency gains for farmers,” says Co-Founder and CEO Arief Witjaksono.

In the past 6 months, Pitik has increased its farm network size by over 10x through partnering with hundreds of farmers in 53 districts in West and Central Java. From this network of farmers, Pitik is currently selling over 16 million chickens annually – making Pitik the largest poultry startup in terms of business size in Indonesia, despite being operational less than one year.