Heaptalk, Jakarta — Indonesia’s agri-biotech startup Hyoshii Farm completed its pre-seed funding from a consortium of angel investors. Although the exact amount remains undisclosed, this investment is confirmed to involve prominent family offices of large conglomerates from diverse industries and additional investment from the founder.
According to its official statement, the allocated funds will primarily fuel the expansion of production facilities, including state-of-the-art strawberry greenhouses and ongoing research and development efforts. With its current production capacity maxed out, the startup aims to triple its capacity with the secured funding.
“We are excited about the potential impact of this funding. We expect to attract more customers who appreciate the health benefits of consuming locally sourced produce. Moreover, we aim to inspire and empower young talents to join us in addressing the challenges and opportunities within Indonesia’s agricultural sector,” The CEO and Co-Founder of Hyoshii Farm comments on this funding completion.
Founded three years ago, the company boasts a profitable operating margin and has no immediate plans to allocate the funds raised toward operational expenses. Hyoshii Farm startup has experienced a staggering 10-fold improvement in product demand over the past year, even amidst a surge in imported berry products flooding the Indonesian market.
Addressing soaring demand, Hyoshii Farm has introduced a new business unit this year. This business expansion allows them to extend their expertise by offering services to select farms and customers, providing quality seedlings, growing input materials, and training while guaranteeing the off-take of high-quality harvests under the Hyoshii brand.
Before obtaining the pre-seed round, this agritech startup aimed to enhance its berry production by 5-10 fold and plan to expand its business in 2022. The startup also intended to augment the network of 20-30 shops and supermarkets in Jakarta, Surabaya, and Bandung.
With its innovative approach to quality, bolstered by funding that allows immediate expansion and an enriched R&D initiative, Hyoshii Farm targets to significantly impact on Indonesia’s agricultural scene, fostering prosperity for farmers and delighting consumers with premium and locally grown produce.
