More details emerge on early stage funding round for Indonesian agritech startup Sayurbox
Sayurbox is set to open its first offline store at a high-end shopping mall in Central Jakarta
In January 2, accelerator programme Plug and Play Indonesia announced that five out of the nine startups in its programme have raised follow-on funding, including Indonesian agritech startup Sayurbox, though no details were mentioned about how much each company has raised and the identity of their investors.
Today, a Dealstreet Asia report revealed Patamar Capital as the lead investor, with participation of Insignia Ventures and “a clutch of” angel investors.
Patamar Capital’s investment is estimated to be between US$200,000 and US$300,000, and it is channeled through its Investing in Women programme.
The result of a partnership with the Australian government and Kinara Indonesia, Investing in Women fund and accelerator programme aim to empower startups and small businesses led and founded by women in Indonesia, Vietnam, and the Philippines.
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In October 2017, the initiative named agritech startup Panen ID as one of the recipients of a US$25,000 investment in Indonesia.
Sayurbox was also a participant of the accelerator programme.
The company is an online marketplace that connects customers to farmers, enabling them to get fresh organic and hydroponic produces delivered directly to their door. It aims to cut off the role of middlemen, resulting in a fairer price for farmers.
Following the funding round, Sayurbox is set to open its first offline store at Plaza Indonesia, Central Jakarta.
The startup had previously won the Jakarta chapter of global early stage startup competition Seedstars World.
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Image Credit: jagcz / 123RF Stock Photo
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