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Indonesian Startup Company JALA Tech Receives Massive $16 Million Funding for Service Improvement
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JALA Tech, a leading Indonesian startup company, has succesfully secured massive funding from multiple investors. Recent updates indicate that JALA Tech plans to use this new funding to enhance its aquatech technology, focusing on shrimp cultivation. Dive deeper into JALA Tech and its recent accomplishments in the following report.
Indonesian Startup Company JALA Tech Raises Millions of USD in Series A Funding
On November 28, JALA Tech’s official social media revealed the company has secured funding in millions of USD.
While JALA’s social media revealed to have raised 13.1 million USD investment, a recent submission to the Singapore Accounting and Corporate Regulatory Authority (ACRA) further disclosed that the Indonesian aquatech company had received a total of 16.13 million USD in Series A startup funding.
Further in the reports, multiple venture capital firms have reportedly played substantial roles in this financial round. The prominent Indonesian venture capital firms Intudo Ventures and Sinar Mas Digital Ventures (SMDV), French investment manager Mirova’s Sustainable Ocean Fund (SOF), and the US-based coastal fishing-focused impact investor, The Meloy Fund have participated in supporting this Yogyakarta-based startup.
“Indonesia is the world’s fourth biggest shrimp producer, holding a significant position in the international seafood market.
As the shrimp industry in the country keeps growing, there’s a rising need for up-to-date farming methods.
JALA offers digital tools that help farmers boost their economic gains by increasing their shrimp yields. These tools also promote more sustainable farming methods. This means Indonesian shrimp can reach markets worldwide.
We are thrilled to back JALA in their goal to modernize and improve shrimp farming in Indonesia.”
– Patrick Yip, Founding Partner of Intudo Ventures.
Moreover, the ACRA documentation also indicates that the funding reported may be a partial figure for the Indonesian startup company. It means there’s a possibility of the overall round being more substantial or including various components, such as debt financing.
Dedication to Its Aquatech Service Improvement
In addition, detailed filings reveal that Intudo Ventures had contributed $6.37 million, while SMDV invested $4.25 million. Furthermore, SOF and The Meloy Fund have exercised warrants to acquire Series A shares, contributing $4 million and $1.5 million, respectively.
Following this recent funding, JALA Tech firmly commits to fortifying the shrimp farming industry in Indonesia.
Along with the improvement, the startup company intends use the funding to broaden its activities into several Indonesian areas, including Sumatra, Sulawesi, and Nusa Tenggara. Notably, these regions have been renowned for their unique potential growth for the shrimp cultivation industry.
“JALA is dedicated to creating a sustainable future for Indonesia’s shrimp industry.
We are incredibly excited to enhance our work with support from Intudo and SMDV. This funding will allow us to extend our comprehensive shrimp farming solutions to Indonesia’s remote areas.
It will also provide local farmers with the necessary technology and financial aid to boost the country’s shrimp production.”
– Liris Maduningtyas, Co-Founder and CEO of JALA.
About JALA Tech
Established in 2017, Indonesian startup company JALA Tech has revolutionized the shrimp industry by providing all-in-one solutions to enhance shrimp farming. The solution includes advanced technology services like data analysis and water quality monitoring. In like manner, the startup company provides convenient assistance in cultivation, financing, supplies, and marketing.
Additionally, JALA helps farmers market their shrimp effectively. The company offers a streamlined system with quick, secure payment methods. This system guarantees that farmers receive prompt and fair payment for their harvest. Not only that, but JALA’s farm assistance program also provides direct support to farmers, helping them address everyday farming challenges.
Another key point stated that the Indonesian aquatech startup company has partnered with Conservation International as well. As a result, this partnership allows JALA to develop the Climate Smart Shrimp project. The projects allows JALA to combine shrimp farming intensification with mangrove restoration.
Eventually, with this new funding, the aquatic startup company will expectedly demonstrate more promising improvements.
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