Semaai raises $4.7M to expand agritech and fintech solutions in Central Java

Indonesian agritech startup, Semaai, recently secured a combined equity and debt financing of $4.7M. The funding round was led by CyberAgent Capital, alongside a host of new and existing investors such as Sumitomo Corporation Equity Asia, Ruvento, MyAsiaVC, Heracles Ventures, Peak XV’s Surge, Accion Venture Lab, and Beenext.

• Funding So Far: Following a successful year, Semaai's total funding now stands at $7.6M. The new capital will be used to broaden its agronomy advisory service, partner with fintech institutions to enhance fintech solutions and bolster its presence in Central Java.

• 2024 Goals: Semaai, founded by Yoga Anindito, Gaurav Batra, and Abishek Gupta, aims to reach 75% of Central Java's 8,200+ villages by 2024.

• 2023 Achievements: Over the last year, the company's net revenue has increased fifteen-fold and its marketplace user base has doubled. Semaai's advisory feature usage has increased eightfold in the last six months and is popular among active users.

• Company Background: Semaai, a 'farmer-first' company, develops comprehensive agri-tech solutions to enable farmers and rural MSMEs to maximize their earning potential and gain better financing, services, and access to new markets. Among their services are a B2B digital marketplace for agricultural inputs, agronomy advisory services to improve farming practices, and financial services in partnership with financial institutions and fintech providers

In conclusion, Semaai's innovative blend of commerce and logistics, coupled with its significant growth, positions it as a valuable player in the Indonesian agricultural sector.