Kindrik Partners advises on Sayurbox’s US$120 million series C financing
Kindrik Partners is delighted to have advised Indonesian agritech start-up Sayurbox on its US$120 million series C financing led by Northstar and Alpha JWC Ventures. Other investors participating in the investment round included the World Bank’s International Finance Corporation, Astra Digital, Syngenta Group Ventures and Global Brain.
Founded in 2017, Sayurbox digitises Indonesia’s agricultural and food supply chain addressing inefficiencies in the industry. Using unique demand forecasting, inventory planning and route optimisation technology, the business increases customer experience through freshness, pricing, product range and delivery. Sayurbox currently serves around 1 million customers in the Greater Jakarta, Surabaya, and Bali areas, while working with more than 10,000 farmers nationwide, providing a seamless supply chain from the farm to the end consumer.
The investment will be used to accelerate growth in existing markets, expand to new cities and extend its end-to-end supply chain nationwide.
Partner Lee Bagshaw says:
“Agritech, logistics and food supply technology are rapidly growing sectors in Indonesia and Sayurbox leads the way in looking to improve productivity in a fragmented industry. We’re pleased to have been able to advise the company on this transformative financing round.”