Agritech is in high-demand worldwide with venture capital coming from the richest investment firms. TaniHub is a leader of the pack in SouthEast Asia, and in a recent round of funding, they raised $65 million to go towards increasing the cost efficiency of food production.
MDI Ventures led the way in this funding round, with participation from the likes of Tenaya Capital, UOB Venture Management, Add Ventures, BRI Ventures, Flourish Ventures, Intudo Ventures, and Openspace Ventures.
This was an incredible increase comparied to their $10 million Series A back in May of 2019.
CEO Eka Pamitra had this to say:
“More than 100 data points are considered when doing the credit risk assessment. For example, for cultivation financing products, TaniFund tailors each credit scoring based on agriculture risks and market risk of each commodity, on top of the typical borrower E-KYC scoring and process.”
“Beyond credit scoring, having TaniSupply and TaniHub as a standby buyer within the ecosystem also helps to mitigate risk of each loan. TaniFund aims to further boost its credit scoring system with smarter data processing and better machine learning models.”