TaniHub Secures Series A+ Funding Worth 285 Billion Rupiah

TaniHub Group announced that it has successfully secured series A+ funding of US$17 million or equivalent to 285 billion Rupiah. This is a continuation of the round series A which was previously announced in May 2019.

The funding this time was led by Openspace Ventures and Intudo Ventures. Also participating are UOB Venture Management, Vertex Ventures, BRI Ventures, Tenaya Capital and Golden Gate Ventures. With this, the total funding achieved by TaniHub Group since 2016 has reached Rp462 billion.

The additional capital received will be used to strengthen the business position by expanding the coverage area, both for farmers and customers. Operational improvement is also a focus, such as the implementation of automation solutions for processing and packaging centers.

Co-founder & President of TaniHub Group Pamitra Wineka said, regeneration is very important for Indonesian agriculture, considering they are one of the biggest contributors to the country's economy. Farmers need to increase productivity and income to convince the younger generation that agriculture is a sector that has bright prospects.

"Our TaniHub Group ecosystem is designed to help farmers achieve their dreams and consumers can enjoy agricultural products at reasonable prices. This will enable 'agriculture for everyone', which is our main goal," explained Pramitra.

TaniHub admitted that they had managed to get a threefold increase compared to the previous year. Altogether there are more than 30.000 small farmers joining their ecosystem. On their platform there are also 5.000 business customers consisting of SMEs, hotels, restaurants, caterers, and 115.000 retail customers.

Based on data Startup Report from DSResearch, Most downloaded TaniHub app for category agrotech with a total of over 100.000 downloads in 2019. Beating Winged and iGrow. While from business side TaniHub's delivery of agricultural products is in the same segment as Sayurbox, Kecipir, etanee, Kedai Sayur, and others.

Have a dream to be present throughout Indonesia

Currently, TaniHub already has five branch or regional offices, namely in Bogor, Bandung, Yogyakarta, Surabaya, and Denpasar. Most recently, TaniHub Group is finalizing the PPC (Processing and Packing Center) in Malang with a building area of ​​3.000 square meters.

For automation solutions, they will install machines that can process and perform packing automatically. The goal is to reduce the touch of human hands so that product quality and safety are guaranteed. After Malang, the plan is to have PPC and DC in other cities.

"TaniHub is focused on building infrastructure and supply chains which are currently the biggest challenges in Indonesia's agricultural sector. We are committed to strengthening our partnerships with partners in the B2B area, including with SMEs. We expect even better growth for this year and we look forward to reach all cities across the country by 2020," said Ivan Arie Sustiawan, Co-founder & CEO of TaniHub Group.

In addition to serving sales of agricultural products, TaniHub Group also has a P2P lending service, TaniFund. This service has succeeded in disbursing 100 billion Rupiah in loans since operating in 2017.