FishLog Pockets Initial Funding Led by Insignia Ventures Partners
Arise, KK Fund, Ango Ventures, Captain Fresh, and a number of angel investors were involved in this funding round
Platform marketplace B2B fishing"FishLog" announced that it had completed the initial stage of funding. It was not stated further how much the investment was received, this funding was led by Insignia Ventures Partners.
Get involved in this investment Arise, KK Fund, Ango Ventures, an Indian startup called Captain Fresh, and a number of angel investors such as Kopi Kenangan Co-founder & CEO Edward Tirtanata, AwanTunai Co-founder Windy Natriavi, CMO Shipper Jessica Hendrawidjaja, and several other names.
The fresh funds are planned to be used by the company to expand the ecosystem of digital products and fisheries services in Indonesia scale-up regional network across the country, making it possible for new partners to join the ecosystem, and build teams and capabilities. FishLog had participated in a number of competitions and acceleration programs, including: DSLaunchpad ULTRA.
"Through Fishlog, we are building an inbound market driver for all fisheries stakeholders in Indonesia, streamlining their supply chain processes to be more efficient and transparent in a more sustainable way," said Bayu Anggara, Co-Founder & CEO.
Similar to other logistics services, such as Ritase to Shipper, FishLog wants to focus on middle chain logistics. Currently FishLog has entered into partnerships with 25+ supply side savers in coastal areas. They have served 10+ cities, from Aceh to Papua. There are around 100 fishermen who claim to have been helped by the services offered by FishLog.
Solutions for fisheries supply chains
While there are already solutions developed by startups that focus on the fisherman or the farmer side of the supply chain, Fishlog wants to bring technology into the fisheries supply chain, provide strong distribution channels for fishermen, and easy access for B2B to get fish readily available. real-time.
FishLog comes from the logistics side and supports supply chain fisheries in Indonesia. The platform is also equipped with applications that can help partners to record warehouse operations, access raw materials, and market access. Since implementing this model, FishLog has increased revenue almost 20-fold year over year in addition to this unique approach to Indonesia's fragmented supply chain.
They have also provided digital solutions for cold storage warehouses to increase their utility by connecting with more suppliers and buyers, also enabling these suppliers to have easier access to goods.
"With the on-the-ground experience and local network of the founding team, the rapid momentum they have gained since launch, and their focus on digitizing distribution coldstorage, Fishlog is well positioned to take the lead in addressing longstanding inefficiencies in the Indonesian fishing industry,” said Insignia Ventures Partners Founding Managing partner Yinglan Tan.