Koltiva Pockets Funding, Focuses on Fixing Agricultural Supply Chains with Technology
Koltiva started its operations in Indonesia through the cocoa production sector, has now expanded to 30 other commodities
Startups focused on agricultural supply chains Koltiva announced that it has completed a seed funding led by Silverstrand Capital. It was not stated how much investment value was obtained in this funding round. Other investors involved are The Meloy Fund, Planet Rise, Development Finance Asia, and Blue7.
The fresh funds will be used to accelerate the development of its technology to deliver data traceability innovations (traceability), as well as providing knowledge from agronomists to assist farmers in improving agricultural practices. The company also wants to develop transparency capabilities in the agriculture sector.
"This funding will help us achieve our goal over the next five years to support 5 million farmers and ensure responsible production, free from deforestation, conversion, exploitation, human rights abuses and child labour," said Koltiva Co-Founder & CEO. Manfred Borer.
Founded in 2013, Koltiva is a technology startup that empowers more than 700.000 manufacturers and business users in 27 countries. Koltiva started its operations in Indonesia through the cocoa production sector and to date has grown in 30 commodities, including coffee, palm oil, rubber and specialty commodities.
Recently, Koltiva has also expanded to climate solutions and Blue Economy, including seaweed and shrimp farming. Koltiva has operations in 27 countries with a growing market opportunity of over $20 billion.
"Koltiva excels by focusing on social issues, as well as its ability to deliver integrated products and services across a wide range of commodities and geographies. Koltiva is one-stop-shop for farmers, processors, traders and big agribusiness players,” said Silverstrand Capital Founder Kelvin Chiu.
It is noted that throughout 2022 there have been several platforms agritech who receive funding. Among others are Gokomodo, AIR, to Vegetable Shop. While for Eratani The plan is to complete the next stage of funding by the end of this year.
Two leading technologies
Two new technologies will be developed commercially in this funding round. The first technology is KoltiPay, a financial technology platform that not only provides cashless payment transactions for farmers, but also provides crop insurance. (crop insurance) and loan services.
The second technology is KoltiTrade which allows farmers to be able to buy agricultural production facilities (agri-inputs) and gain access to a wider market to sell their produce.
These two technologies will be integrated in the Koltiva technology ecosystem, including software (software) traceability and farm management (KoltiTrace), as well as training services by field agents through KoltiSkills.
"Agribusiness actors and multinational companies that want to produce products and meet market needs need to know the origin of raw materials, transparency and accuracy of data from their products. This is what we do," said Manfred.