Openspace backs Indonesian agtech start-up

Golden Gate Ventures, Intudo Ventures, and DFS Lab, a financial technology accelerator funded by the Bill & Melinda Gates Foundations, also participated. It follows a seed round last year from Alpha JWC Ventures and a number of angel investors.

TaniGroup is best known for its TaniHub e-commerce platform, which connects farmers with more than 400 small and medium-sized enterprises as well as over 10,000 individual customers. The idea is to improve trading terms for agriculture industry participants through more direct communication, B2B and B2C channels. The company has five regional offices and distribution hubs serving more than 25,000 farmers.

Other services include P2P lending business TaniFund, which helps farmers without access to formal financial institutions bankroll agricultural projects, in part by clarifying credit terms through access to TaniHub data. TaniFund is a member of the Indonesian Fintech Lenders Association and registered with the domestic financial services authority OJK.

"Accessing multiple channels of demand, farmers can sell fresh produce to TaniHub, while TaniFund can help with funding needs for cultivation," Pamitra Wineka, president and co-founder of TaniGroup, said in a statement. "We will be rolling out several other supporting platforms which will further improve agricultural decision making."

Southeast Asia-focused Openspace was founded in 2014 as NSI Ventures, an early-stage investor affiliated to Northstar Group. Last year, the firm rebranded under its current name and closed its second fund at the hard cap of $135 million.

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• Topics
• Southeast Asia
• Industrials
• Financials
• Early-stage
• Indonesia
• Openspace Ventures
• Golden Gate Ventures
• Intudo
• Agriculture
• Financial Services