Indonesian aquaculture tech company Delos has finished a seed fundraising round. The company, established earlier this year, is developing a management system for shrimp farmers to help them digitalize their farming activities, which the company claims can result in production increases of between 50 percent and 150 percent.
Investors included Indonesia-based MDI Ventures; Amsterdam, the Netherlands-headquartered Finch Capita; PayFazz CEO and Co-Founder Hendra Kwik; Japfa CEO Irvan Kolonas; Number Capital; and iSeed Asia, according to TechInAsia.
Delos, which did not publicize the total amount raised, said it plans to use the funds to improve its software, improve value-chain integration, and expand to new farm partners.
The company said it is helping Indonesia’s aquaculture sector to solve difficulties impeding growth, including a limited application of technology, low access to financing, and limitations in management capacity.
Delos has collaborated with local aquaculture firm Dewi Laut Aquaculture and fintech company Alune Aqua to advance its business operations, it said.
Apart from Delos, two other fisheries platforms in Indonesia have been able to raise funds for their operations in the past two years. In July, Aruna – a seafood-trading platform founded in 2016 – announced it secured USD 35 million (EUR 30 million) from its Series A funding round, led by Prosus Ventures and East Ventures (Growth Fund), and participated in by SIG and existing investors AC Ventures, MDI, and Vertex Ventures. Aruna said it is the largest Series A investment ever into an Indonesian agritech and maritime venture. The funding will be used to accelerate its business expansion and improve its supply chain infrastructure. Aruna has been working with 21,300 fishermen in 13 provinces in Indonesia.
In August 2020, Indonesian start-up eFishery, which offers fish and shrimp farmers “an end-to-end platform” with “access to feed, financing, and markets” successfully completed a Series B funding round, securing funds to strengthen the company’s product development.
Photo courtesy of Aruna
