The Indonesian agritech startup Elevarm has raised $4.25 million in pre-Series A funding headed by Intudo, with involvement from 500 Global and Insignia Ventures Partners, two previous investors.
According to a statement released by Elevarm on Thursday, the money will be utilized to develop new agri-input items that improve soil health, encourage biodiversity, and fortify crops, as well as to extend seed types and create artificial intelligence (AI)-powered farmer productivity tools.
The company intends to use the additional funds to carry out several important projects, such as increasing the selection of seedling kinds, which will provide farmers more choices in selecting the best crops for their land and objectives.
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Through NextBio, it also intends to create bio-based fertilizers, pest control products, and other agri-inputs to improve crop resilience, support biodiversity, and improve soil health.
Additionally, it wants to introduce AI-powered digital solutions that will give farmers and Elevarm’s field crew real-time insights to enhance farming techniques, automate jobs, and promote more intelligent decision-making.
“Access to high-quality seedlings and fertilizers has long been a challenge for smallholder farmers, limiting their ability to maximize yields and sustain profitable harvests,
“Elevarm is changing this by making high-quality farming essentials accessible to all, enhancing productivity and improving farmer livelihoods,” said Bayu Syerli, Co-Founder and Chief Executive Officer of Elevarm.
“We are thankful for the trust of our investors in supporting our mission in driving sustainable growth for Indonesia’s horticulture industry, enabling us to expand our geographical footprint and offer more innovative products and solutions to meet the needs of smallholder horticulture farmers and improve their livelihoods,” he said.
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Elevarm was established in 2022 and focuses on producing high-quality agriculture inputs and horticulture.
By offering high-quality seeds, bio-based fertilizers, and eco-friendly pest control products, the company increases the productivity and earnings of smallholder horticulturists throughout Indonesia.
NextBio, the company’s in-house research and development (R&D) engine, is committed to creating sustainable and innovative agricultural inputs that will assist farmers in boosting crop resilience, biodiversity, and soil health.
Its seedlings are grown in state-of-the-art greenhouses and given careful, precise care. Stronger, healthier plants produce greater yields and more reliable harvests as a result.
The Ministry of Agriculture of Indonesia, the Ministry of Cooperatives and SMEs of the Republic of Indonesia, Institut Teknologi Bandung (ITB), IPB University, Padjadjaran University (UNPAD), Bank BJB, Amartha, Rabo Foundation, Reliance Finance, Transform (Unilever, UK FCDO, and EY), and other government agencies, non-governmental organizations (NGOs), and research and development labs are among the more than 30 partners with which the company also works.
Elevarm covers all of the primary facets of cultivation with its large-scale farming production standard operating procedures (SOPs), from planting and soil preparation to crop maintenance, insect management, and harvest.
The Elevarm app uses artificial intelligence (AI) to provide the on-ground crew with data-driven suggestions, real-time insights, and precision farming methods.
“Elevarm is well-positioned to shape the future of Indonesia’s horticulture industry,” said Patrick Yip, Founding Partner, Intudo.
“By continuing to innovate, invest in technology, and prioritize sustainability, Elevarm can lead the way toward a more productive, resilient, and sustainable agricultural sector,
“We’re excited to back Elevarm and support them in making this vision a reality,” he added.
“By combining AI with traditional farming wisdom, Elevarm offers a scalable approach that has the potential to help nations worldwide strengthen their food systems while adopting sustainable farming practices,” he added.
