Fishery and marine platform Aruna has completed a US$30 million Series A follow-on funding, led by Vertex Ventures Southeast Asia & India. The round also saw participation from existing investors Prosus Ventures, AC Ventures, East Ventures (Growth Fund), Indogen Capital, SMDV and SIG Venture Capital. Its Series A funding now totals $65 million.
Founded in 2016, Aruna acts as a one-stop-shop and end-to-end supply chain aggregator that streamlines the process for Indonesia’s fishermen to access a global network. It operates in 27 provinces in Indonesia, representing 70% of the country.
In 2021, Aruna’s representation grew to more than 26,000 registered fishermen in 75 locations from Sumatra to Papua. It sold 44,000 tonnes of seafood to overseas markets.
The company said that it will use the fresh funds to expand into new geographies in Indonesia and enlarge its market share in the global market. The funding will also be used to invest and bolster hiring to support its goal of building end-to-end technology infrastructure and sustainable fishery practices.
Aruna CEO, Farid Naufal Aslam, said the latest funding round “indicates investor confidence in Indonesia’s potential as the largest maritime country” and “validates Aruna as the leading start-up in this sector.”
The remains committed to continue building a broader impact for Indonesian people, especially those in coastal communities, Aslam said, adding that this ambition is aligned with the government’s focus on bolstering an inclusive and sustainable economy by accelerating technology adoption across the country.
“We have a vision of making Indonesia the centre of the world’s maritime economy and we hope to achieve this by revolutionising the marine and fisheries industry chain, encouraging financial inclusion, and promoting sustainable fishing industry practices.”
Prosus Ventures Head of Southeast Asia Investments, Sachin Bhanot, commented, “Aruna has demonstrated impressive growth as it continues on its mission to transform Indonesia’s fisheries and marine industry. We are excited about their future prospects and equally proud of their impact on the community, industry and the environment, through their abiding commitment to sustainability.”
