Angel investors Nipun Mehra, founder and CEO of e-commerce startup Ula; Harshet Lunani, founder and CEO of Qoala; and Prashant Pawar, technology investment banker at Houlihan Lokey, also participated in the round.
Semaai will channel a large part of the funding to expand its engineering and product teams in India, even though the startup primarily operates in Indonesia.
“Semaai has plans to grow its tech talent in India by at least three times by the end of 2022,” the company said in a statement. The startup is building a full-stack agri-tech solution for Indonesia’s rural agriculture communities.
“Despite their contribution to Indonesia’s economy, farmers and rural MSMEs find it extremely difficult to sustain their livelihoods and take advantage of the growing middle-class demand for diversified food products. This is due to the fragmented and complex agricultural supply chains in Indonesia, which leads to opaque pricing, lack of access to affordable farming inputs, and a huge mismatch in supply and demand,” the company said.
Founded in April 2021 by Abhishek Gupta, Gaurav Batra and Muhammad Yoga
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Anindito, Semaai offers a comprehensive suite of services for rural agricultural communities.
“We are committed to growing our team and expertise to help empower rural farming communities across Indonesia and improving our tech solutions to increase their earning potential,” Gupta said.
The startup provides customised consultancy through its team of expert agronomists, access to productivity tools such as soil testing technology as well as farming inputs such as seed and fertiliser products.
Semaai plans to expand its network of service delivery centres, starting with toko tanis (agri-retailers) and eventually reaching the vast number of smallholders in rural Indonesia, it said.
“Semaai comes at an important time where farmers are open to and rapidly adopting digital methods, with increasing smartphone penetration rates and affordable data. The agricultural industry is definitely ripe for change, with technology as a key driver,” Batra said.
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