When Aruna’s founders first met at university, they wanted to find a way to use their studies in information technology to help family members who were running small fisheries. Indonesia is one of the world’s largest fisheries producers, but the industry is very fragmented. This means fisheries, especially small ones, deal with fluctuations in demand and price instability. Aruna was created to bring them closer to customers like restaurants and exporters, the way farm-to-table startups are aggregating the agricultural supply chain.

Aruna announced today it has raised $35 million in Series A funding led by Prosus Ventures and East Ventures Growth Fund, with participation from SIG and returning investors including AC Ventures, MDI and Vertex Ventures. Aruna says this is the largest Series A investment to date in Indonesia’s agritech and maritime sector.

The company works primarily with small fisheries (or ones that have boats with about one to two metric tonnes of capacity) and focuses on sustainability, helping suppliers adhere to the United Nations Goal 14’s targets. These include preventing overfishing, protecting coastal ecosystems and giving small-scale fisheries access to more resources and markets.

Aruna was founded in 2016 by Farid Naufal Aslam, Indraka Fadhlillah and Utari Octavianty, who …read more

Source:: TechCrunch

      

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