Redefining agritech in Southeast Asia: 5 Key takeaways
The agritech sector in Southeast Asia is at the forefront of addressing some of the most pressing challenges facing global agriculture today. During East Ventures Summit 2024, we brought four of our portfolio to shed light on their insights, experiences, and strategies for overcoming the unique challenges they face in the agritech industry.
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.
A startup’s guide to implementing ESG
‘The furnaces of the world are burning about 2,000,000,000 tons of coal a year. When this is burned, uniting with oxygen, it adds about 7,000,000,000 tons of carbon dioxide to the atmosphere yearly. This tends to make the air a more effective blanket for the earth and to raise its temperature. The effect may be considerable in a few centuries.’ This is a newspaper excerpt from 1912, which warns about the consequences of unchecked growth. Global concern about the survival of future generations and the planet continued to mount until 1987, when the United Nations defined sustainability – "meeting the needs of the present without compromising the ability of future generations to meet their own needs.”
Collaboratively leveraging agritech for resilient and inclusive growth
Indonesia is an agricultural powerhouse with over 42 million hectares under cultivation, yet productivity is widely considered to be suboptimal. According to the World Bank, 93 percent of Indonesia's agriculture output is dominated by smallholder farmers who earn an average of US$ 3.20 per day, younger generations are becoming increasingly uninterested in the sector.
Reimagining Indonesia’s agriculture by strengthening the supply chain
Indonesia is known as one the world’s major agricultural nations and some of the world’s largest producers and exporters of crops such as rubber, copra, palm kernels, palm oil, coffee, cocoa, and spices. However, Indonesia’s agriculture technology and productivity falls behind neighboring countries, something we believe that we can improve the industry by improving the supply chain.
Gokomodo, Indonesian agribusiness supply chain solution, announces US$ 26 million series A funding led by East Ventures
Gokomodo, an Indonesian agriculture supply chain platform, announced a US$ 26 million series A funding round led by East Ventures. Other investors participating in the oversubscribed round are SMDV, Eight Capital, K3 Ventures, Triputra, Waresix, Indogen Capital, Sahabat Group, and Sampoerna Financial. This funding amount marked as one of the largest series A ticket sizes in Indonesia ever.
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.