Indonesian integrated fishery platform Aruna has closed a $5.5 million funding round from East Ventures, AC Ventures, and SMDV, the company announced on Wednesday.
The announcement confirmed a DealStreetAsia report in October last year that the firm had snagged around $5 million from the said investors.
On Wednesday, Indonesian aquaculture startup eFishery, too, announced that it has snagged an unspecified amount in a Series B funding round led by Go-Ventures and Northstar Group, another deal that was first reported by us early this year.
Aruna’s latest round will help the startup scale its operations into new domestic and export B2B markets. Aruna has been working with 31 fishermen in coastal areas across the archipelago, helping them to get direct access to the B2B domestic and overseas markets.
“Aruna’s mission is to make the sea a better livelihood for all. E-commerce helps create more fairness and transparency in the fishing industry, as well as making a more efficient supply chain. By reaching more coastal areas across Indonesia, Aruna joined the effort in building economic equality in Indonesia,” Aruna co-founder and CEO Farid Naufal Aslam said.
Founded in 2016, the firm aims to create fair trading of seafood products, while also improving the livelihood of local fishermen. It raised a seed round in 2017 from UMG Indonesia.
SoftBank Group was reportedly interested in investing in Aruna following chairman and CEO Masayoshi Son’s meetings with fashion marketplace Zilingo, edtech startup Ruangguru and Aruna during his visit to Indonesia in July last year.
Aruna claims to have recorded an 86-times growth in revenue in the first half this year compared to the same period last year thanks to the strong global demand for fresh sea products amid the coronavirus pandemic.
The firm launched Seafood by Aruna, a home delivery service for fishery products, ready-to-eat products, and ready-to-cook products for consumers in the Greater Jakarta area, Bandung, and Balikpapan. Aruna’s products are also available at Tokopedia, Shopee, Bukalapak, and Grab Mart. Aruna also collaborates with Sayurbox, Nalayan, and Delisari.