1. Startups

Aruna Announces Series A Funding of 507 Billion Rupiah

This round is the largest series A funding in Indonesia so far, particularly in the agriculture and fisheries sector

Startups aquatech Aruna announced that it has raised a series A funding of $35 million or the equivalent of 507 billion Rupiah. This round was led by Prosus Ventures and East Ventures with the participation of SIG as well as previous investors such as AC Ventures, MDI Ventures, Vertex Ventures, and several other investors.

This funding is claimed to be the largest series A in Indonesia today, especially in the agriculture and fisheries sector.

Previously, in 2020, Aruna posted additional for initial funding $5,5 million from East Ventures, AC Ventures, and SMDV.

Next, fresh funds will be focused Aruna to increase its expansion in the national scope and strengthen its supply chain infrastructure. In addition, they want to open new markets by adding commodity variants, as well as increasing their technological capabilities and data analysis.

"This funding will help us to increase our network of fishermen and fishers throughout Indonesia in meeting the high global demand. Aruna aspires to be a real solution in improving the lives of coastal communities," said Aruna Co-Founder & CEO Farid Naufal Aslam.

Along with this, the company also appointed Budiman Goh as President; and one co-founder they are Utari Octavianty as Chief Sustainability Officer.

"Aruna will continue to combine its technological capabilities with local insights and also case studies from global markets, while preserving ecosystems, empowering coastal communities and meeting demands from global markets," added Utari.

As is known, Aruna established since 2016. Apart from Farid and Utari, there is also Indraka Fadhlillah as co-founder. Through technology they want to transform the fishery supply chain to meet the global market. It is hoped that digitization can shorten the process and make the process more concise and integrated.

Fishery sector potential

Indonesia is currently the second largest fish producer in the world with a market size of $30 billion. This industry also absorbs a significant workforce, registered more than 3 million fishermen.

Based on BPS data, fishery production in Indonesia has a tendency to increase from year to year. Since 2014 the increase is even above 20%. The area of ​​conservation areas continues to increase, the latest data as of 2017 is around 19,14 million hectares.

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Not only consumed domestically, fish products are also one of the promising export commodities. Since 2012, the markets of the United States, Japan, and China have been export destinations that have been continuously boosted.

National fishing industry statistics / Ministry of Marine Affairs and Fisheries

The presence of Aruna and other fishery startups is indeed a breath of fresh air for this industry. In addition to production and distribution, ideally the efficiency of business processes can also improve the standard of living of people in the fisheries sector. So far, there are several fishery startups that continue to improve their innovations, including: eFisheries, Jala, to Danalaut with different business and product approaches.

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