INDONESIA, 18 February 2022: Indonesia-based agri-tech startup Semaai earlier this week raised USD 1.25m (INR 8.75 crore) in a funding round.
Pre-seed funding for the company was provided by Surge, Sequoia Capital India's rapid scale-up program for startups in India and Southeast Asia, and Beenext.
Semaai operates primarily in Central Java, Indonesia, but a large portion of the funding will be allocated for expanding the startup's engineering and product teams in India, the company said.
"Semaai plans on growing its tech talent in India at least threefold by the year 2022," it stated.
Semaai was founded in April 2021 and the company's growth in Indonesia is based on the company's expertise in the Indian agri-tech market.
With the help of its expert team of agronomists, the startup provides customised consultancy services, access to productivity tools such as soil testing technology as well as farming inputs such as seeds and fertiliser products.
As a result of the launch of Semaai, the gross merchandise value (GMV) of products sold to agri-retailers and Micro, Small & Medium Enterprises (MSMEs) has increased by tenfold in just five months.
As part of its plans, the startup aims to provide its services and impact up to 100,000 smallholders and rural MSMEs by next year.
Image credit: kiowacountypress.net
Ravi Kumar: Reporting and writing news stories on agriculture and allied sectors since 2020 prior to this worked as sub-editor for IIICorp for five years.
