The Jakarta-based agritech startup Elevarm has announced that its new strategic partners have committed to invest $1 million in the company. It’s a financing commitment to be distributed to smallholder farmers.
The pledge follows the startup’s official announcement of strategic alliances with Rabo Foundation in Europe, Scala, a tech behemoth listed on the Nikkei, in Japan, and Amartha, an Indonesian microfinance company driven by technology.
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Elevarm was established in 2022 with the goal of giving farmers high-quality inputs for more productive, secure, and easily accessible farming. By the end of this year, more than 1,000 farmers should benefit from the global relationships.
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Elevarm declared in May that it would be raising $2.6 million in seed money to increase the production capacity of organic fertilizer and seedlings. 500 Global and Insignia Venture Partners served as the round’s anchors.
About Elevarm
Elevarm are one of the quickest growing agri-tech businesses in Indonesia, specializing in upstream horticulture, and offer business clients supply solutions through the consolidation and advancement of smallholder farmers.
