In today’s briefing:
- Indonesian Agritech Startup Eratani Bags US$2M Seed Funding
- Dubai-Based Kaso Raises $10.5m to Optimize Food Supply Chain
- eFishery Banks US$200M, Targets to Engage 1M+ Aquaculture Ponds by 2025
- Needle Raises $1.2m to Help Optimize Ecommerce Marketing with AI
Indonesian Agritech Startup Eratani Bags US$2M Seed Funding
- Indonesia-based agritech firm Eratani has secured US$2 million in a seed extension round from SBI Ven Capital, Genting Ventures, Orvel Ventures, and Ascend Angels.
- This deal brings the total seed funding to US$5.8 million.
- The new investment comes about half a year after Eratani raised US$3.8 million from TNB Aura, Trihill Capital, BIG Ventures, and AgFunder.
Dubai-Based Kaso Raises $10.5m to Optimize Food Supply Chain
- Kaso, which bills itself as the largest B2B ordering platform for restaurants and suppliers in the Middle East, has raised US$10.5 million in a seed round to fuel its mission of disrupting the food supply chain.
- Founded in 2021, the Dubai-based firm currently has 5,000 partners in Saudi Arabia and the United Arab Emirates. Its platform streamlines the fulfillment process for restaurants and suppliers, enhancing efficiency and transparency as well as combating food waste.
- The company estimates that food waste in the Middle East and North Africa (MENA) region amounts to around 250 kilograms per capita per year.
eFishery Banks US$200M, Targets to Engage 1M+ Aquaculture Ponds by 2025
- Indonesia’s aquaculture company eFishery has raised US$200 million in its Series D funding round led by Abu Dhabi-based global fund manager 42XFund.
- Malaysian public sector pension fund, Kumpulan Wang Persaraan (KWAP), Switzerland-based asset manager responsAbility, 500 Global, Northstar, Temasek, and SoftBank also joined.
- The funds will be used to expand the eFishery farming community, targeting to engage over 1 million aquaculture ponds in Indonesia by 2025 and increasing the transactions of fish feed and fresh fish on the platform.
Needle Raises $1.2m to Help Optimize Ecommerce Marketing with AI
- Needle, an AI-powered marketing platform from Singapore, has raised US$1.2 million in its pre-seed round led by Iterative, with participation from Ethos Fund and Goldbell Financial Services. Angel investors, including Rainforest founder JJ Chai, also joined the round.
- The fresh capital will be used to expand Needle’s team, consisting of data scientists, AI trainers, and engineers.
- Needle helps ecommerce brands optimize their marketing activities. By analyzing data from various platforms, Needle provides personalized recommendations and automates campaign creation, helping firms reduce costs and improve return on investment.
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