AgriTech startup Aruna secures US$ 5.5M in funding
AgriTech startup Aruna secures US$ 5.5M in funding

Indonesia-based AgriTech startup Aruna has secured US$ 5.5M in funding in August 2020, from existing investors East Ventures, AC Ventures and SMDV.

Capital raised in the funding round will be used by Aruna to develop its fisherman community network by expanding to more coastal parts and augment its operations into new domestic and export B2B markets.

The startup runs an online marketplace along with a selling platform for fishery products in Indonesia. It was started in 2016 by three graduates of Telkom University Bandung, Farid Naufal Aslam, Indraka Fadhillah, and Utari Octavianty to leverage technology to create a feasible and fair-trade environment for fish and marine products.

Aruna helps local fishermen distribute their products to countries in Southeast Asia, East Asia, North America and the Middle East. It has worked with thousands of fishermen in 31 coastal areas across Indonesia, spanning several regions between Sumatra and Papua. They also help fishermen get direct access to the B2B domestic market. CEO Farid Naufal Aslam was quoted to say, “Aruna’s mission is to make the sea a better livelihood for all. eCommerce helps create more fairness and transparency in the fishing industry, as well as making a more efficient supply chain. By reaching more coastal areas across Indonesia, it joined the effort in building economic equality in the country.”

According to the startup, it recorded an 86x growth in revenue in H1, 2020 compared to H1, 2019 as global demand for fresh sea products continues to remain strong despite the Coronavirus pandemic. Since fishery commodities are a source of protein and a multitude of nutrients that are essential for the immune system, their demand has consistently grown even amidst the pandemic which makes the agritech startup very optimistic regarding further growth even if the coronavirus continues to stay.

It launched ‘Seafood by Aruna’, a home delivery facility for fishery productsto cater to the surge in demand for home delivery of fresh produce and staples. It provides fresh fish and seafood products, ready-to-eat and ready-to-make eateries for consumers in the Greater Jakarta area, Bandung, and Balikpapan.

Seafood by Aruna is available at various eCommerce companies like Tokopedia, Shopee, Bukalapak, and Grab Mart. Aruna has also partnered with Sayurbox, Nalayan, and Delisari and is open to openings for new resellers.

The startup had previously obtained an undisclosed seed funding in April 2017, from hardware and machinery distributor UMG Indonesia.

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Aishwarya writes about the startup ecosystem on VCBay. She is a third-year Computer Science engineering student who looks forward to exploring the world of startups and finance.

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