Heaptalk, Jakarta — An agritech supply chain platform, Gokomodo, announced to secure a USD26 million Series A investment led by East Ventures. Several investors also followed this oversubscribed round, including SMDV, Eight Capital, K3 Ventures, Triputra, Waresix, Indogen Capital, Sahabat Group, and Sampoerna Financial.
This funding amount is claimed as one of Indonesia’s most extensive series A ticket sizes. From now on, through this fresh capital, this startup will prioritize its product preference expansion on its platform, increase its customer base, and advance its digital platform. In addition, Gokomodo’s team plans to aggressively build out physical distribution points in remote areas to create a hybrid ecosystem to stimulate market penetration and reach underserved regions in Indonesia more efficient.
Gokomodo’s Co-Founder and CEO, Samuel Tirtasaputra, expressed his gratitude for the robust backing from East Ventures and other investors. The company’s dual approach in combining a robust digital platform with a strategic physical footprint is expected to boost penetration opportunities around the uncovered digital ecosystem areas. These stores enable Gokomodo to provide straight service for customer off-Java, the most dominant agribusiness and small farmers existed.
Samuel revealed this matter aligns with the company objectives in promoting Indonesia’s agribusiness enterprises and small farmers to gain equal access through technology adoption. By having a closer presence with farmers, he is confident in bolstering their welfare and building more sustainable farming practices in Indonesia.
Agribusiness is the second largest contributor to Indonesia’s GDP, covering over 42 million hectares with a total market of around USD30 billion in procurement inputs. Despite its size, the supply chain is highly fragmented and inefficient, affecting the obstacles for numerous corporates and smallholder farmers alike in accessing high-quality agricultural inputs such as fertilizer and equipment reliably.
“Gokomodo has proven to be a reliable partner for both large companies and smallholders, as a trusted solution for good quality supplies that arrive within a clear timeframe. Our goal is to leverage technology to bridge the gap between prominent corporates and smallholder farmers, supporting the latter by utilizing our buying power and infrastructure on their behalf,” Gokomodo’s Co-Founder and CTO, William Pramana, said.
Established in 2019, Samuel Tirtasaputra, a former agribusiness executive and William Pramana, a serial tech entrepreneur. The startup as built the largest enterprise network and land coverage in its sector. Currently, Gokomodo has more than 3,000 companies in its ecosystem including major agribusinesses corporates in Indonesia, including Sinar Mas, First Resources, and Sampoerna Agro.
Leading this funding round, Co-Founder and Managing Partner of East Ventures, Willson Cuaca, delivered his warmly welcome for Gokomodo into the firm’s ecosystem. He observed this agritech platform contains an innovative solutions to press supply chain issues in the agribusiness sector. With the tremendous potential of Indonesia’s agribusiness, Willson believes this platform can boost productivity and generate output significantly to support Indonesia’s economic growth.
