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[FUNDING NEWS] Indonesia-Based Elevarm Raises $1Million In Funding

The Jakarta-based agritech startup Elevarm has announced that its new strategic partners have committed to invest $1 million in the company.

The pledge follows the startup’s official announcement of strategic alliances with Rabobank in Europe, Scala, a tech behemoth listed on the Nikkei, in Japan, and Amartha, an Indonesian microfinance company driven by technology.

Among other things, they are pro-farmer finance solution will enable smallholder farmers to purchase agricultural input on a secured credit basis thanks to the partners’ $1 million commitment.

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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 we offer business clients supply solutions through the consolidation and advancement of smallholder farmers.

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