TaniHub Reportedly Obtained Series B Funding of Nearly 1 Trillion Rupiah (UPDATED)

Startups agritech TaniHub Group reportedly bagged a series B funding round of $65,5 million (over 940 billion Rupiah) led by MDI Ventures. According to the information that DailySocial Thank you, this round was also attended by UOB Global Capital, Vertex Ventures, Telkomsel Innovation Partner, BRI Ventures, Add Ventures, Flourish Ventures, Intudo Ventures, Openspace Ventures, Tenaya Capital, and others.

This round brought TaniHub's valuation to over $200 million.

One of the investors we contacted gave a "green signal" to the news. According to them, this investment is the company's commitment to advancing the agricultural industry in Indonesia with a technological approach.

Previously, the management of TaniHub had indeed boasted of the investment round that the company was raising at the beginning of this year. Co-Founder & CEO of TaniHub Group Wineka Partners said the enthusiasm of investors in this round was claimed to be so good, that oversubscribed of the targeted funds.

"We want to contribute these funds back to farmers in Indonesia. We want to expand where we can reach more farmers, hopefully can reach Papua,” he said at the time.

Series A round sTanihub announced in April 2020 for $17 million led by Openspace Ventures and Intudo Ventures.

In an official statement delivered by the company today (21/5), Pamitra said, "[..] Therefore we plan to strengthen our role in every region of Indonesia so that we are closer to farmers and the community. So in the end what we do can reduce the price disparity between farmers and consumers.”

MDI Ventures Portfolio Director Sandhy Widyasthana added, “[..] MDI will continue to focus on investing in technology startups that have a big role in various sectors that are influential in people's lives and can make a big difference in Indonesia. MDI sees TaniHub Group as having a big role in agriculture and has proven that its existence can have a positive impact on improving the quality of life of farmers in Indonesia [..]” he said.

TaniHub Group is getting more expansive this year, one of which is through the inauguration of NFC (National Fulfillment Center) in Cikarang to support agricultural supply chain infrastructure that can support national and global market demands. At that location ready to serve inbound and outbound for other islands outside Java and Bali as well as foreign markets.

On an area of ​​12.000 square meters, it has a large capacity for coldstorage and accommodate the product non-fresh such as groceries and processed foods (processed foods) of various brands. Not only that, the company is building more regional distribution facilities (DCs), product processing and packaging centers (processing packing center/PPC), poultry processing center (poultry processing center/PPC), and rice mills at various points.

The selected locations include North Sumatra, Riau, Palembang, Lampung, Banjarmasin, Banjarmasin, Manado, and Makassar. Currently, the PPC location that is fully operational is in Malang which supports supply chains from various regional distribution facilities spread across five cities, namely Bogor, Bandung, Kartasura, Surabaya, and Denpasar.

Last April, the company exported 14,5 tons of watermelon from its farmer partners in Lampung to the United Arab Emirates. In this country, it is predicted that the potential for sustainable demand from the UAE market will reach 156 tons per month.

Other countries are being targeted for exporting fruits, including pineapples, bananas, mangoes, and oranges to Singapore, Taiwan, South Korea, and Malaysia with a capacity of 1.000 tons per month with an export value of Rp. 15,31 billion this year.

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*We added an official statement from TaniHub