Sayurbox, a farm-to-table e-commerce company in Indonesia, has raised an undisclosed amount of Series B investment in a round co-led by public-listed automotive major Astra Digital International and Syngenta Group Ventures.
Global Brain Corporation, Ondine Capital (based in China and Southeast Asia), investment company Strategic Year, and other undisclosed investors also participated.
The capital will be used to support Sayurbox’s ongoing development of supply chain infrastructure, accelerate its growth in its existing markets, and expand into newer regions of Indonesia.
Last week, there was a news report (in Bahasa) that Astra had invested US$5 million in Sayurbox earlier this year.
Founded in 2017 by ex- gojek executive Rama Notowidigdo and Amanda Susanti, Sayurbox is an online grocery marketplace providing thousands of affordable and high-quality vegetables, fruits, meats, seafood, and grocery items sourced directly from local farmers, producers, and suppliers.
The company not only promises better prices for farmers and consumers but also reduces the agricultural waste caused by supply chain complexity.
As of now, Sayurbox operates in Greater Jakarta, Surabaya, and Bali.
“This partnership is an important step to unlocking the potential that digital innovation brings to agriculture in Asia, and complements Syngenta’s commercial strategy to work with digital startups that connect farmers with multi-stakeholders such as traders, buyers, suppliers, and consumers,” said Djony Bunarto Tjondro, Director of Astra.
“We see huge value in the transformation and digitalisation of Indonesia’s food supply chain. With leading technology, superior quality product and stable service, Sayurbox sets in the best position to capture it,” added Ondine Capital founding partner Randolph Hsu.
“We are excited with the demand we are seeing for Sayurbox in Java island, as well as other regions in Indonesia. With like-minded investors who believe in our vision, we will seize this huge opportunity to continue to bring goodness to all; from the homes of local farmers and producers directly to more Indonesian households, providing freshness in one box and convenience at your fingertips,” Sayurbox co-founder, Amanda Susanti, added.
As per the data obtained by Tracxn, the Indonesia online grocery sector is heavily crowded with 69 startups competing with each other.
Image Credit: Sayurbox
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