JAKARTA -- Indonesian integrated fishery platform Aruna has closed a $5.5 million funding round with East Ventures, AC Ventures and SMDV, the startup announced Wednesday.
On Wednesday, Indonesian aquaculture startup e-Fisheries also announced that it has snagged an unspecified amount in a Series B funding round led by Go-Ventures and Northstar Group.
Aruna's latest funding round will help the startup expand 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 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 company aims to create fair trade in seafood products while also improving the livelihoods of fishermen. It held 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 says revenue grew 86 times in the first half of this year compared with the same period last year thanks to the strong global demand for fresh seafood amid the coronavirus pandemic.
The company has launched Seafood by Aruna, a home delivery service for fishery products, ready-to-eat products and ready-to-cook products in the Greater Jakarta area, Bandung and Balikpapan. Aruna's products are also available on the e-commerce platforms Tokopedia, Shopee, Bukalapak and Grab Mart, and it collaborates with Sayurbox, Nalayan and Delisari.
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