Heaptalk, Jakarta — Indonesia’s agritech startup, Banyu, has received a fresh injection of $1.25 million seed funding led by Intudo Ventures. The capital will be strategically allocated to expanding BANYU’s seed cultivation production facilities, broadening its cultivation and export reach, and refining its high-yield seed methodologies. Initially, BANYU plans to focus expand on Sulawesi, followed by other key regions, including Nusa Tenggara, Lampung, and Maluku.
“This funding expedited our goal to make seaweed a sustainable, high-value resource,” the CEO of Banyu, Dodon Yamin, said.
Indonesia, the world’s largest producer of tropical seaweed, faces several industry challenges, such as suboptimal seed quality, labor-intensive and costly farming practices, price transparency issues, inconsistent market demand, limited access to financing, and low adoption of data and technology solutions. Banyu addresses these challenges by offering technological solutions to empower local farmers and enhance productivity.
Founded in December 2023, Banyu aims to transform the Indonesian seaweed sector by providing high-quality seeds, implementing modern cultivation techniques, and ensuring stable incomes for local farmers. The company’s comprehensive approach also emphasizes the development of an efficient and sustainable aquaculture ecosystem.
Banyu provides an innovative Farming as a Service (FaaS) model for seaweed commodities. This service encompasses a complete solution from high-quality seed provision, cultivation management, and post-harvest processes to delivering seaweed products tailored to the needs of businesses in various sectors, including FMCG, food production, biotechnology, and textiles.
As a result, its seed methods have demonstrated a 20% increase in yield compared to traditional techniques, adapting well to Indonesia’s diverse aquatic conditions. The startup also equips farmers with tailored cultivation protocols based on specific regional and seasonal knowledge of seaweed varieties.
By 2025, this FaaS startup plans to supply high-quality seaweed seeds and affiliate with 500 local farmers. The company also intends to enhance derivative products, including animal feed and bio-fertilizers, specifically for the plantation sector. Additionally, Banyu will hold feasibility studies for the potential application of corporate farming in the seaweed industry.
