Livestock Startup BroilerX Reportedly Raises IDR 20 Billion in Funding Led by Insignia Ventures [UPDATED]

A startup developing solutions for the poultry industry, BroilerX, has reportedly secured an initial $1,3 million (around Rp.20 billion) seed funding led by Insignia Ventures. According to regulatory filings as quoted from Venture Cap, there are other investors with anonymous identities participating in the round.

Until this news was released, BroilerX Founder & CEO Prastyo Ruandhito did not respond when contacted DailySocial.id.

This poultry farming startup from Yogyakarta presents a business end-to-end, starting from providing IoT-based chicken coop condition monitoring technology (Internet of Things), farmer partnership program, ERP (Enterprise Resource Planning) for management purchasing, accounting, inventory, manufacturing production, farming, CRM, and HR. Then, the provision of live chicken supplies and chicken carcass providers whose sales process can be monitored on an ongoing basis online.

BroilerX Smart Climate Control and Automation is a solution that combines smart sensors, automatic control systems and intelligent data analysis to ensure optimal environmental conditions for livestock. Thanks to this technology, farmers can monitor and control temperature, humidity, ventilation and air quality in the pen real time, improve animal welfare, reduce the risk of disease, and significantly increase livestock productivity.

The coverage area is not only in Yogyakarta, but has expanded to East Java, by opening service areas in Sidoarjo, Malang, Madiun and Kediri. The company wants to provide easier access for poultry farmers in the region to benefit from their smart farming ecosystem.

Partner with Amartha

Recently BroilerX announced a partnership with Amartha to provide capital for farmers. The commitment given reaches IDR 100 billion with financing amounts ranging from IDR 100 million to IDR 700 million per person. As of last June, collaboration had begun through the Partner Farming Partnership program spread across Yogyakarta, Central Java and East Java.

The financing system used in this program is different from the joint responsibility system that Amartha has used to channel capital to women ultra-micro entrepreneurs. Chicken farmers can apply for financing to purchase technology-based livestock equipment from BroilerX, so they can increase production capacity.

Apart from that, breeders also have different financing tenors from Amartha's female partners. Through the Partner Farming Partnership program, farmers can choose a shorter financing tenor according to the harvest period in the livestock sector, namely from 45 days to 90 days. In channeling capital to chicken farmers, Amartha takes advantage r technologyisk-profiling AI based, which will produce accurate credit scoring for breeders.

In an official statement, Prastyo said that his party has the expertise to create technology that can increase livestock productivity considering that the livestock sector has great potential. However, the problems faced by assisted breeders do not stop with productivity alone, but also problems with financial access.

"Often breeders are ready with knowledge and expertise, but are hampered by capital to be able to develop. Therefore, they need to collaborate with other partners who have credibility in terms of financial inclusion. This is answered through collaboration with Amartha," he explained.

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*) We revised the investor names