TMI Venture Leads US$13.5 Mln Funding for EdenFarm

By Editorial Team 31/01/2023
land bank
Summary

Indonesia's leading agritech platform, EdenFarm, raised US$13.5 million in a pre-Series B funding round led by Telkomsel's investment arm TMI Venture.

EdenFarm's existing investors AppWorks, AC Ventures, Trihill Capital, and OCBC NISP Ventura also joined the funding round. Decart Ventures, Fubon Capital, Nakhla, and Capria Ventures also invested. With this round, the total capital raised by EdenFarm was US$34.5 million.

EdenFarm will use the proceeds to expand across the country. EdenFarm will also use the newly acquired funds to extend its penetration in agriculture across Indonesia and enhance the customer experience with more efficient technology-based solutions.

Telkomsel Mitra Inovasi (TMI) CEO Mia Melinda said EdenFarm's upstream-to-downstream business-to-business (B2B) food supply chain network has successfully empowered local farmers to earn better incomes. "Therefore, we are very excited to support EdenFarm's food ecosystem by funding and long-term collaboration with Telkomsel Digital Food Ecosystem (DFE)," Mia said in a statement on Monday. DFE is one of Telkomsel's initiatives to support the digitization of the agricultural sector.

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