Agritech Startup "Beleaf" Receives Initial Funding of 30 Billion Rupiah Led by Alpha JWC Ventures

Based on data Startup Report 2021 and Q1 2022 by DSInnovate, industry agritech still recorded positive growth which is expected to increase until 2023. This is also shown by the presence of new players and funding that does not recede to support this industry.

Beleaf, a smart solution for agriculture in Indonesia has just announced the acquisition of an initial stage funding of $2 million or more than 30 billion Rupiah led by Alpha JWC Ventures. BRI Ventures' managed fundsNusantara Sembrani', MDI-Finch Capital's managed fund 'Arise', and several investors angel involved in this funding.

Founded in 2019 by Amrit Lakhiani, beleaf started the business as a premium hydroponic brand offering various types of vegetables and fruits. As the business grew and the experience of managing their own farms grew, the company began to develop its products into technology-enabled farm management.

Beleaf Solutions offers services end-to-end Comprehensive 'Farming as a Service', from operations, distribution, and offtaking – connecting farms, distributors and retailers in one integrated ecosystem. This system is supported by technology big data and IoT to enable precision local farming, Beleaf is currently focusing on three key features: control, automation and management.

Beleaf founder and CEO Amrit Lakhiani explained that the system in question is the Beleaf Operating System (OS), a platform that connects IoT devices, data collection, monitoring, logistics, scheduling, and forecasting. This operating system aims to improve agricultural operational performance.

This platform can be used to monitor seedling, temperature, nutrition, position, airflow, humidity, irrigation and packaging within the farm. All data collected from this process will then support its machine learning for agriculture and Beleaf's continuous improvement and future research and development of solutions.

“Once our partner farms use Beleaf OS, they will see improvements in harvest consistency, productivity and quality. In addition, they will use less resources, thereby increasing profits and environmental sustainability," added Amrit.

Partner at Alpha JWC Ventures Eko Kurniadi said, “In the last three years, Beleaf has proven its consistent and strong performance, from harvest quality, operating efficiency to the economics of agricultural units. They are now in a unique position to expand their technology footprint through their Beleaf OS and become a major player in the alternative agriculture scene in Indonesia."

Service focus and future targets

After successfully securing funding, Beleaf is said to focus on increasing the use of technology, strengthening the team, and doubling resources. In this case, the company intends to open up more R&D and build more farming communities mainly in West Java.

To date, Beleaf has collaborated with 14 farms in West Java covering more than 80 hectares and producing more than 70 tons of fresh produce per month. Branded products en casait can be found in 15 supermarkets with 110 outlets, 8 platforms e-commerce, and 10+ o restaurant. Some well-known supermarkets that have collaborated include The Food Hall, Grand Lucky, Hero, and Ranch Market.

Currently, the company only supplies vegetable and fruit products. Amrit believes in the concept of starting something from the most understood. In this context, Beleaf has proven itself by developing its own agricultural produce, and this year managed to scale its model. However, his party also expressed readiness to expand the product range.

Besides Farming as a Service, Beleaf is also expanding its brand en casa by adding a new brand, Seikat, to an existing premium brand (Beleaf), and adding more variety to its list. "We are ready to accelerate growth and pilot geographic expansion. We have started with vegetables and fruits, and will explore other plant groups whose models can be replicated," said Amrit.

Based on data from the Central Bureau of Statistics, the market value of Indonesian fruits and vegetables currently reaches $33 billion, and has the opportunity to grow to $56 billion by 2026. On the other hand, agricultural costs are expected to increase which is influenced by rising input costs, poor technology adoption, reductions in agricultural labor, and inefficient logistics due to fragmentation.

“Ultimately, with experience and technology, we strive to improve the productivity, quality and welfare of farmers throughout Indonesia. Our dream is to reduce Indonesia's dependence on imported fruit and vegetables and bring Indonesian products to global standards," added Amrit.

Besides Beleaf, other players who also carry a similar concept are Askara. The concept of Askara Daulat Desa FaaS is to do the whole cultivation program, from planting planning, land clearing, planting execution, and direct delivery to clients.