NEW DELHI, Feb 15: Indonesia-based agri-tech startup Semaai on Tuesday said it has raised USD 1.25 million (Rs 8.75 crore) in a funding round.
The pre-seed funding round was led by Surge, Sequoia Capital India’s rapid scale-up program for startups in India and Southeast Asia, and Beenext.
While Semaai primarily operates in Central Java, Indonesia, a large part of the funding will be channeled into expanding the startup’s engineering and product teams in India, a statement said.
“Semaai has plans to grow its tech talent in India by at least three times by the end of 2022,” it said.
Semaai was founded in April 2021, and the company is applying best practices from their expertise in the Indian agri-tech ecosystem for their growth in Indonesia.
In just five months since launch, Semaai has seen the gross merchandise value (GMV) of products sold to agri-retailers and Micro, Small & Medium Enterprises (MSMEs) increase by tenfold.
The startup aims to deliver its services and impact up to 1,00,000 smallholders and rural MSMEs by next year, it added. (PTI)
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