AgriAku

AgriAku, operated by PT Agriaku Digital Indonesia, is an Indonesian technology-based agribusiness company that runs a B2B marketplace for agricultural production inputs (saprotan) such as seeds, fertilizers, agrochemicals and equipment. The platform sources products from manufacturers, suppliers and first-level distributors and connects them directly to agri-input retailers known as toko tani (farmer stores), which in turn distribute to smallholder farmers. Orders are placed through mobile and web applications, with the Android app distributed via Google Play.

Beyond transactions, the platform provides retailers and suppliers with business software including bookkeeping and inventory management tools intended to support demand forecasting. Company statements position the marketplace as a way to improve product discovery and price transparency for retailers and farmers. Stated development priorities following its 2022 Series A included optimising unit economics, adding logistics and financing services for distributors and manufacturers, data and supply-chain transparency services, a dedicated farmer app, and eventually a marketplace where farmers can sell harvests to offtakers such as rice millers or corn dryers.

Founding story

AgriAku was founded in May 2021 by Irvan Kolonas and Danny Handoko. Kolonas previously founded Vasham, an Indonesian agricultural social enterprise working with smallholder corn farmers, and has described AgriAku as a continuation of that mission after concluding that selling directly to farmers was not sustainable and that village retailers (toko tani) were the more effective distribution point. Handoko was previously CEO of the Indonesian hospitality startup Airy.

Business model

AgriAku operates a B2B marketplace intermediating between agricultural input manufacturers, suppliers and first-level distributors on the supply side and village-level agri-input retailers (toko tani) on the demand side, with retailers serving as the last-mile channel to smallholder farmers. The company has stated plans to layer value-added services such as logistics, fulfilment and financing on top of the marketplace.

Revenue is generated through the sale and distribution of agricultural inputs across its B2B marketplace, with stated plans to expand revenue streams into value-added services including logistics and financing for distributors and manufacturers, and to extend across the value chain into agricultural outputs and farmer market access.

Traction

Coverage from early 2022 reported around 10,000 registered farmer stores and average month-on-month gross merchandise value growth of 200% over the preceding four months, with between 10,000 and 20,000 retailers and hundreds of suppliers using the applications. By the time of the Series A the company reported coverage of more than 500 cities nationwide, and its website states cooperation with more than 23,390 partners across Indonesia.

Latest developments

In July 2022 AgriAku announced an oversubscribed $35 million Series A led by Alpha JWC Ventures with participation from returning and new institutional and strategic investors, and appointed Abraham Soedjito as Chief Strategy Officer and Valmik Mirani as Chief Commercial Officer. Stated priorities include growing its farmer store and distributor networks, optimising unit economics, and expanding across the value chain into agricultural outputs and farmer market access.