East Ventures’ six startups listed in Forbes Asia 100 to Watch 2024 list
The fourth annual Forbes Asia 100 to Watch list showcases small companies and startups in Asia-Pacific that grabbed investors’ attention—and their checkbooks.
East Ventures-backed founders listed in Forbes’ 30 Under 30 Asia
With global economic uncertainty on the rise and a significant drop in VC funding, young entrepreneurs in Asia-Pacific have faced a new set of challenges in the past year. But the current environment hasn’t killed innovation. Judging by this year’s cohort of 30 Under 30 Asia honorees, creativity has proven to be a valuable asset to survive—and thrive—amid tougher circumstances.
Building Chickin: From farm to industry leader
Chickin began with three college friends sharing smashed fried chicken, an Indonesian regional cuisine called ayam geprek, and a passion for creating a real, positive impact in Indonesia: Tubagus Syailendra, Ashab Alkafi, and Ahmad Syaifulloh Imron.
The role of fintech lending to Indonesia’s agribusiness sector
Agriculture plays a significant role in Indonesia's economic growth and development. It contributed to 14% of the nation's GDP in 2020, and the sector employs 29% of the Indonesian workforce. However, most Indonesian farmers are still living in poverty. According to World Bank’s data, around half of the Indonesian farmers are smallholders that earn an average of US$ 3.2 per day.
Unlocking the giant opportunity of agribusiness with digital optimization
Based on the Company Perception Survey in the East Ventures-Digital Competitiveness Index (EV-DCI) 2022 report, the agribusiness sector is considered less than optimal in terms of digital utilization. Of the 71 small, medium, and large corporations that participated in the survey, 57.7% of respondents believed that the agribusiness sector is not yet at maximum digital reach.
Chickin, an Indonesia-based poultry startup, raised seed funding led by East Ventures
Chickin, an Indonesia-based poultry startup, raised an undisclosed amount of seed funding led by East Ventures with the participation of other investors. The investment will accelerate Chickin’s mission in enhancing Indonesia’s food security, where Chickin will allocate the fund to focus on improving their growth, people, technology, partner acquisition, and farmers empowerment to ensure the best quality and maximum amount of production.