Aruna, an Indonesia-based fisheries and marine platform, announced that it has raised US$35 million in a Series A funding round led by Prosus Ventures and East Ventures (Growth Fund).
Oher investors who joined the round include SIG, AC Ventures, MDI, Vertex Ventures, and other undisclosed investors.
This news comes after the company raised US$5.5 million last year.
With the newly raised capital, Aruna aims to expand its presence nationwide and strengthen its supply chain infrastructure. It further seeks to cater to customers in new markets, diversify its product range, and enhance its product.
Indonesia consists of more than 17,500 islands and is currently the world’s second-largest fisheries producer, with market size of more than US$30 billion.
Currently, the overexploitation of seas and oceans has been negatively affecting marine biodiversity, making it even more vital to create a system that adheres to trade practices, that it believes are imperative for the long-term sustainability of the industry.
Founded in 2016, Aruna serves as a one-stop shop for Indonesia’s fishermen to connect with restaurants and exporters. Its goal is to help create fair fish trading, improve the livelihood of local fishermen, and bring affordable and high-quality seafood to communities.
Through Aruna, local fishermen can export their products to countries in Southeast Asia, East Asia, North America, and the Middle East. Aruna has worked with thousands of fishermen in 31 coastal areas across Indonesia, covering multiple regions between Sumatra and Papua.
As of now, the company has a base of 21,300 registered fishermen across 13 provinces in Indonesia and plans to expand the number significantly in the future.
In addition to the funding news, Aruna has also appointed Budiman Goh, as President of the Company, and Utari Octavianty, as Chief Sustainability Officer, to lead and strengthen the sustainability initiatives of Aruna.
“We support a sustainable and fair fisheries industry for all. Aruna continues to combine its technological capabilities with local insights and global best practices, while preserving the ecosystem, empowering local communities, and meeting the needs of our global customer base. Our vision is to make Indonesia the centre of the world’s maritime economy in the future,” said Octavianty.
“This sector will grow rapidly. Aruna’s vision is aligned with ours to build a sustainable fishery and marine economy that will have a positive impact for a long time,” added Roderick Purwana, Managing Partner of East Ventures.
Image Credit: Aruna
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